NetEase (NASDAQ:NTES) Lowered to “Buy” at BidaskClub

NetEase (NASDAQ:NTES) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

NTES has been the subject of a number of other reports. TH Capital lifted their price target on shares of NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, May 13th. ValuEngine raised shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Zacks Investment Research raised shares of HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Barclays lifted their price objective on shares of NetEase from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Benchmark reissued a “buy” rating and issued a $305.00 price objective (up from $295.00) on shares of NetEase in a research note on Thursday, May 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $278.75.

NTES stock traded down $4.48 during trading hours on Wednesday, reaching $247.99. 657,840 shares of the stock were exchanged, compared to its average volume of 713,784. NetEase has a 12 month low of $184.60 and a 12 month high of $289.68. The company has a market cap of $32.80 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. The firm’s 50-day simple moving average is $259.00.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, May 15th. The technology company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.89. NetEase had a return on equity of 17.05% and a net margin of 10.94%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the company posted $1.59 earnings per share. NetEase’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities research analysts predict that NetEase will post 8.77 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC acquired a new stake in NetEase during the fourth quarter worth approximately $31,000. Close Asset Management Ltd raised its holdings in shares of NetEase by 233.3% during the first quarter. Close Asset Management Ltd now owns 500 shares of the technology company’s stock valued at $121,000 after purchasing an additional 350 shares during the period. Marshall Wace LLP raised its holdings in shares of NetEase by 151.2% in the 1st quarter. Marshall Wace LLP now owns 638 shares of the technology company’s stock worth $154,000 after acquiring an additional 384 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of NetEase by 162.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 706 shares of the technology company’s stock worth $166,000 after acquiring an additional 437 shares during the last quarter. Finally, QS Investors LLC raised its holdings in shares of NetEase by 7.1% in the 4th quarter. QS Investors LLC now owns 750 shares of the technology company’s stock worth $177,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 45.98% of the company’s stock.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Analyst Recommendations for NetEase (NASDAQ:NTES)

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