NetEase (NASDAQ:NTES) Receives “Equal Weight” Rating from Morgan Stanley

NetEase (NASDAQ:NTES)‘s stock had its “equal weight” rating reiterated by equities research analysts at Morgan Stanley in a report issued on Thursday, MarketBeat reports. They presently have a $100.00 target price on the technology company’s stock, down from their previous target price of $120.00. Morgan Stanley’s target price would suggest a potential upside of 1.67% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th. HSBC reduced their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average price target of $123.50.

NetEase Trading Down 0.5 %

Shares of NTES opened at $98.36 on Thursday. NetEase has a 12 month low of $80.79 and a 12 month high of $118.89. The stock has a fifty day moving average price of $99.05 and a 200-day moving average price of $102.10. The firm has a market cap of $63.41 billion, a PE ratio of 15.54, a P/E/G ratio of 0.90 and a beta of 0.58.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. As a group, research analysts forecast that NetEase will post 7.07 EPS for the current year.

Institutional Investors Weigh In On NetEase

A number of institutional investors have recently modified their holdings of the business. Financial Counselors Inc. boosted its holdings in NetEase by 4.1% in the 4th quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock worth $298,000 after buying an additional 125 shares during the last quarter. Mendota Financial Group LLC lifted its stake in NetEase by 9.2% in the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $156,000 after purchasing an additional 127 shares in the last quarter. Lindbrook Capital LLC lifted its stake in NetEase by 14.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock worth $97,000 after purchasing an additional 128 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in NetEase by 5.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company’s stock worth $241,000 after purchasing an additional 143 shares in the last quarter. Finally, Huntington National Bank lifted its stake in NetEase by 31.4% in the 3rd quarter. Huntington National Bank now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 162 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

About NetEase

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.