NetEase (NASDAQ:NTES) Rating Lowered to Buy at StockNews.com

NetEase (NASDAQ:NTES) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the company. Barclays started coverage on NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 target price on the stock. HSBC dropped their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Benchmark increased their price objective on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 target price (down from $120.00) on shares of NetEase in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

NetEase Price Performance

Shares of NASDAQ NTES opened at $95.58 on Thursday. NetEase has a 1 year low of $81.30 and a 1 year high of $118.89. The firm has a 50-day moving average of $94.92 and a 200 day moving average of $98.46. The stock has a market cap of $61.38 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Research analysts expect that NetEase will post 6.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aurora Investment Counsel increased its position in NetEase by 6.8% during the first quarter. Aurora Investment Counsel now owns 24,766 shares of the technology company’s stock valued at $2,563,000 after acquiring an additional 1,568 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of NetEase by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 181,700 shares of the technology company’s stock valued at $18,800,000 after purchasing an additional 31,400 shares during the period. Advisory Resource Group increased its position in shares of NetEase by 40.1% during the 1st quarter. Advisory Resource Group now owns 8,335 shares of the technology company’s stock valued at $862,000 after purchasing an additional 2,385 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of NetEase by 21.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,127 shares of the technology company’s stock worth $413,000 after purchasing an additional 741 shares during the period. Finally, Kingdon Capital Management L.L.C. purchased a new position in shares of NetEase in the first quarter worth approximately $8,795,000. Institutional investors own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.