NetEase (NTES) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other equities analysts have also recently issued reports on the stock. Jefferies Financial Group raised shares of NetEase from a hold rating to a buy rating in a research note on Friday, September 21st. Barclays dropped their price objective on shares of NetEase from $275.00 to $260.00 and set a hold rating on the stock in a research note on Thursday, August 30th. Macquarie cut shares of NetEase from an outperform rating to a neutral rating in a research note on Thursday, August 9th. Nomura dropped their price objective on shares of NetEase from $386.00 to $352.00 and set a buy rating on the stock in a research note on Friday, August 10th. Finally, BidaskClub cut shares of NetEase from a hold rating to a sell rating in a research note on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase presently has an average rating of Buy and an average price target of $311.92.

NTES traded up $2.04 during trading on Thursday, hitting $222.66. The stock had a trading volume of 717,657 shares, compared to its average volume of 1,118,075. The stock has a market capitalization of $26.28 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.28 and a beta of 0.79. NetEase has a twelve month low of $184.60 and a twelve month high of $377.64.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.82. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.61 billion. NetEase had a net margin of 11.49% and a return on equity of 14.57%. On average, sell-side analysts anticipate that NetEase will post 7.42 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of NTES. Principal Financial Group Inc. boosted its position in shares of NetEase by 21.1% during the 1st quarter. Principal Financial Group Inc. now owns 3,193 shares of the technology company’s stock worth $895,000 after purchasing an additional 557 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NetEase by 5.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,907 shares of the technology company’s stock worth $5,582,000 after purchasing an additional 1,091 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of NetEase by 201.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,334 shares of the technology company’s stock worth $375,000 after purchasing an additional 892 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of NetEase by 24.4% during the 1st quarter. Brown Advisory Inc. now owns 2,745 shares of the technology company’s stock worth $770,000 after purchasing an additional 539 shares in the last quarter. Finally, XR Securities LLC purchased a new stake in shares of NetEase during the 2nd quarter worth $744,000. Institutional investors own 45.38% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. 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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