NetEase (NASDAQ:NTES) had its price target reduced by Nomura from $352.00 to $265.00 in a report released on Monday morning, The Fly reports.
Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of NetEase from a c+ rating to a b rating in a report on Friday, August 10th. BidaskClub upgraded shares of NetEase from a hold rating to a buy rating in a report on Tuesday, October 2nd. Jefferies Financial Group upgraded shares of NetEase from a hold rating to a buy rating in a report on Friday, September 21st. Zacks Investment Research upgraded shares of NetEase from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, Barclays decreased their target price on shares of NetEase from $275.00 to $260.00 and set a hold rating for the company in a report on Thursday, August 30th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $311.92.
Shares of NTES opened at $207.85 on Monday. The company has a market capitalization of $26.42 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.27 and a beta of 0.79. NetEase has a 12-month low of $184.60 and a 12-month high of $377.64.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of NetEase during the second quarter worth approximately $108,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NetEase by 96.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after purchasing an additional 227 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in shares of NetEase by 286.3% during the third quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock worth $151,000 after purchasing an additional 30,861 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of NetEase during the second quarter worth approximately $167,000. Finally, Guinness Asset Management Ltd boosted its holdings in shares of NetEase by 59.1% during the third quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock worth $196,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 45.38% of the company’s stock.
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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