NetEase (NASDAQ:NTES) Upgraded by StockNews.com to Strong-Buy

Posted by on May 27th, 2023

StockNews.com upgraded shares of NetEase (NASDAQ:NTES – Get Rating) from a buy rating to a strong-buy rating in a research note published on Friday.

A number of other research firms also recently commented on NTES. Benchmark lifted their target price on NetEase from $104.00 to $118.00 in a research report on Friday. UBS Group lifted their target price on NetEase from $112.00 to $113.00 in a research report on Friday. Citigroup lifted their target price on NetEase from $115.00 to $118.00 in a research report on Friday. JPMorgan Chase & Co. upgraded NetEase from a neutral rating to an overweight rating and lifted their target price for the company from $85.00 to $100.00 in a research report on Tuesday, February 28th. Finally, Morgan Stanley lifted their target price on NetEase from $115.00 to $120.00 in a research report on Friday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NetEase currently has an average rating of Buy and a consensus target price of $114.71.

NetEase Stock Performance

NASDAQ NTES opened at $89.51 on Friday. The stock’s fifty day moving average is $88.63 and its two-hundred day moving average is $82.18. The firm has a market capitalization of $58.61 billion, a P/E ratio of 17.87 and a beta of 0.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.30 and a current ratio of 2.32. NetEase has a fifty-two week low of $53.09 and a fifty-two week high of $108.77.

NetEase (NASDAQ:NTES – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The technology company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.24). NetEase had a return on equity of 20.48% and a net margin of 23.13%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.69 billion. On average, research analysts anticipate that NetEase will post 4.71 earnings per share for the current year.

Institutional Investors Weigh In On NetEase

Several institutional investors and hedge funds have recently modified their holdings of NTES. Huntington National Bank increased its holdings in NetEase by 36.7% during the 4th quarter. Huntington National Bank now owns 432 shares of the technology company’s stock worth $31,000 after purchasing an additional 116 shares during the period. Mondrian Investment Partners LTD purchased a new stake in NetEase during the 4th quarter worth about $39,000. Belpointe Asset Management LLC purchased a new stake in NetEase during the 4th quarter worth about $39,000. Pinpoint Asset Management Ltd purchased a new stake in NetEase during the 1st quarter worth about $42,000. Finally, CVA Family Office LLC purchased a new stake in NetEase during the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 13.50% of the company’s stock.

About NetEase

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.

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