StockNews.com Downgrades NetEase (NASDAQ:NTES) to Buy

NetEase (NASDAQ:NTES) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

NTES has been the topic of a number of other research reports. HSBC cut their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley lowered their price objective on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $126.00.

NetEase Price Performance

NetEase stock opened at $93.47 on Monday. NetEase has a fifty-two week low of $80.79 and a fifty-two week high of $118.89. The company’s 50 day simple moving average is $101.77 and its 200 day simple moving average is $102.75. The firm has a market capitalization of $60.26 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.87 and a beta of 0.58.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. As a group, analysts predict that NetEase will post 7.04 EPS for the current fiscal year.

Hedge Funds Weigh In On NetEase

A number of institutional investors have recently added to or reduced their stakes in NTES. Private Trust Co. NA increased its holdings in NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after buying an additional 222 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of NetEase in the fourth quarter valued at about $37,000. USA Financial Formulas boosted its position in shares of NetEase by 1,153.1% in the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after acquiring an additional 369 shares during the period. UMB Bank n.a. bought a new stake in shares of NetEase in the first quarter valued at about $50,000. Finally, Headlands Technologies LLC bought a new stake in shares of NetEase in the third quarter valued at about $56,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.