NetEase (NASDAQ:NTES) Downgraded by BidaskClub

BidaskClub cut shares of NetEase (NASDAQ:NTES) from a buy rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

Other analysts have also recently issued reports about the company. ValuEngine upgraded XPO Logistics from a strong sell rating to a sell rating in a research note on Thursday, April 4th. Barclays raised their price target on NetEase from $300.00 to $320.00 and gave the company an overweight rating in a research note on Monday, May 20th. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. China Renaissance Securities upgraded NetEase from a hold rating to a buy rating in a research report on Thursday, May 16th. Finally, TH Capital lifted their target price on NetEase from $270.00 to $310.00 and gave the stock a buy rating in a research report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. NetEase currently has an average rating of Buy and a consensus target price of $278.75.

NetEase stock opened at $259.87 on Tuesday. NetEase has a 1-year low of $184.60 and a 1-year high of $289.68. The firm has a market capitalization of $34.13 billion, a PE ratio of 37.83, a PEG ratio of 2.02 and a beta of 0.85. The company has a fifty day simple moving average of $258.85.



NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.89. NetEase had a return on equity of 17.05% and a net margin of 10.94%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the firm earned $1.59 earnings per share. NetEase’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that NetEase will post 8.77 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in shares of NetEase by 15.1% during the first quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock worth $955,757,000 after buying an additional 518,036 shares during the last quarter. FMR LLC grew its holdings in shares of NetEase by 3.5% during the fourth quarter. FMR LLC now owns 2,172,576 shares of the technology company’s stock worth $511,359,000 after buying an additional 72,461 shares during the last quarter. Norges Bank purchased a new position in shares of NetEase during the fourth quarter worth about $214,335,000. William Blair Investment Management LLC grew its holdings in shares of NetEase by 21.6% during the first quarter. William Blair Investment Management LLC now owns 691,360 shares of the technology company’s stock worth $166,924,000 after buying an additional 122,622 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of NetEase by 7.0% during the first quarter. FIL Ltd now owns 689,173 shares of the technology company’s stock worth $166,401,000 after buying an additional 45,219 shares during the last quarter. Institutional investors and hedge funds own 45.98% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for NetEase (NASDAQ:NTES)

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