NetEase (NASDAQ:NTES) Downgraded by StockNews.com

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

Several other brokerages have also commented on NTES. HSBC decreased their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley dropped their target price on 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, Based on data from MarketBeat.com, NetEase has an average rating of “Buy” and a consensus target price of $126.00.

NetEase Stock Up 0.7 %

NTES stock traded up $0.64 during trading on Monday, hitting $96.63. 1,174,535 shares of the company’s stock traded hands, compared to its average volume of 1,714,481. The business has a fifty day simple moving average of $102.05 and a two-hundred day simple moving average of $102.83. The firm has a market capitalization of $62.30 billion, a P/E ratio of 15.27, a PEG ratio of 0.87 and a beta of 0.58. NetEase has a 1 year low of $80.79 and a 1 year high of $118.89.

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

Institutional Investors Weigh In On NetEase

A number of large investors have recently modified their holdings of the business. Private Trust Co. NA increased its holdings in shares of NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after purchasing an additional 222 shares during the last quarter. Chilton Capital Management LLC purchased a new position in shares of NetEase during the 4th quarter worth $37,000. USA Financial Formulas raised its holdings in shares of NetEase by 1,153.1% during the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock worth $37,000 after acquiring an additional 369 shares during the period. UMB Bank n.a. acquired a new position in shares of NetEase during the 1st quarter valued at about $50,000. Finally, Headlands Technologies LLC purchased a new stake in shares of NetEase in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.