Vetr Inc. Upgrades NetEase, Inc. (NTES) to Buy

NetEase, Inc. (NASDAQ:NTES) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $323.68 target price on the technology company’s stock. Vetr‘s target price points to a potential upside of 8.41% from the stock’s previous close.

Several other brokerages also recently issued reports on NTES. BidaskClub raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. CLSA downgraded shares of NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday, August 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $303.64.

Shares of NetEase (NASDAQ NTES) opened at $298.56 on Monday. NetEase has a fifty-two week low of $211.11 and a fifty-two week high of $337.55. The stock has a market cap of $39,915.64, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.28 and a beta of 0.91.

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Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in NetEase by 21.4% during the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after purchasing an additional 69 shares during the last quarter. PNC Financial Services Group Inc. increased its position in NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new position in NetEase during the second quarter worth approximately $203,000. Huntington National Bank increased its position in NetEase by 84.7% during the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after purchasing an additional 321 shares during the last quarter. Finally, Hikari Power Ltd acquired a new position in NetEase during the second quarter worth approximately $210,000. 50.30% of the stock is currently owned by institutional investors and hedge funds.

About NetEase

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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