NetEase (NTES) Downgraded to Buy at Vetr

NetEase (NASDAQ:NTES) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday, January 22nd. They currently have a $355.00 price objective on the technology company’s stock. Vetr‘s target price points to a potential upside of 18.29% from the stock’s current price.

Other research analysts also recently issued reports about the company. BidaskClub downgraded NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Jefferies Group downgraded NetEase from a “buy” rating to a “hold” rating and lowered their target price for the company from $330.00 to $290.00 in a research report on Tuesday, October 3rd. Benchmark lowered their target price on NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, November 16th. Deutsche Bank set a $334.00 target price on NetEase and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Citigroup reiterated a “buy” rating and set a $351.00 target price on shares of NetEase in a research report on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $349.14.

NetEase (NTES) traded up $5.21 during trading on Monday, reaching $300.11. 978,800 shares of the company traded hands, compared to its average volume of 1,397,313. The stock has a market cap of $38,956.58, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.69 and a beta of 0.75. NetEase has a one year low of $253.20 and a one year high of $377.64.

NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, November 15th. The technology company reported $2.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.20. NetEase had a net margin of 19.64% and a return on equity of 24.93%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.84 billion. sell-side analysts expect that NetEase will post 13.25 EPS for the current fiscal year.

NetEase declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in NetEase by 117.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after purchasing an additional 267 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in NetEase in the fourth quarter worth about $176,000. PNC Financial Services Group Inc. boosted its holdings in NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after acquiring an additional 98 shares in the last quarter. Cibc Bank USA acquired a new stake in NetEase in the fourth quarter worth about $204,000. Finally, Mariner Wealth Advisors LLC acquired a new stake in NetEase in the second quarter worth about $203,000. 48.15% of the stock is currently owned by institutional investors.

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NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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