NetEase (NTES) Upgraded to B at TheStreet

NetEase (NASDAQ:NTES) was upgraded by TheStreet from a “c+” rating to a “b” rating in a research report issued on Friday.

Several other equities research analysts have also issued reports on NTES. BidaskClub upgraded shares of NetEase from a “strong sell” rating to a “sell” rating in a report on Thursday, April 12th. JPMorgan Chase & Co. started coverage on shares of NetEase in a report on Thursday, April 12th. They issued an “underweight” rating and a $240.00 target price for the company. ValuEngine lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Saturday, April 21st. CLSA upgraded shares of NetEase from an “underperform” rating to a “buy” rating in a report on Wednesday, April 25th. Finally, Barclays reiterated a “hold” rating and set a $280.00 price objective on shares of NetEase in a report on Wednesday, May 16th. Four analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $325.62.

NetEase stock opened at $215.79 on Friday. The stock has a market capitalization of $29.51 billion, a PE ratio of 17.39, a PEG ratio of 1.97 and a beta of 0.83. NetEase has a 12-month low of $213.59 and a 12-month high of $377.64.

NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, May 16th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($1.08). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.27 billion. NetEase had a return on equity of 14.57% and a net margin of 11.49%. research analysts expect that NetEase will post 6.92 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of NTES. Baillie Gifford & Co. grew its position in shares of NetEase by 15.5% in the 1st quarter. Baillie Gifford & Co. now owns 3,084,294 shares of the technology company’s stock worth $864,805,000 after buying an additional 413,855 shares during the last quarter. BlackRock Inc. grew its position in shares of NetEase by 6.8% in the 1st quarter. BlackRock Inc. now owns 5,300,537 shares of the technology company’s stock worth $1,486,218,000 after buying an additional 337,387 shares during the last quarter. EastBay Asset Management LLC purchased a new position in shares of NetEase in the 2nd quarter worth approximately $67,008,000. Elephas Investment Management Ltd purchased a new position in shares of NetEase in the 2nd quarter worth approximately $49,220,000. Finally, Krane Funds Advisors LLC grew its position in shares of NetEase by 64.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 463,651 shares of the technology company’s stock worth $117,151,000 after buying an additional 182,082 shares during the last quarter. 45.67% of the stock is currently owned by hedge funds and other institutional investors.

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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