NetEase (NASDAQ:NTES) Stock Rating Reaffirmed by Morgan Stanley

NetEase (NASDAQ:NTES)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a note issued to investors on Thursday, Benzinga reports. They currently have a $100.00 target price on the technology company’s stock. Morgan Stanley’s target price indicates a potential upside of 4.62% from the stock’s current price.

Other analysts also recently issued reports about the stock. Benchmark increased their price objective on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Barclays initiated coverage on shares of NetEase in a research note on Thursday, June 13th. They set an “equal weight” rating and a $104.00 target price on the stock. HSBC lowered their target price 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. Finally, StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

NetEase Stock Performance

Shares of NTES stock opened at $95.58 on Thursday. NetEase has a one year low of $81.30 and a one year high of $118.89. The company’s 50-day moving average is $94.92 and its 200 day moving average is $98.46. The company has a market capitalization of $61.38 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. As a group, research analysts predict that NetEase will post 6.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NetEase

Several institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in NetEase by 59.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 72,172 shares of the technology company’s stock worth $7,229,000 after acquiring an additional 26,818 shares during the period. Northern Trust Corp grew its holdings in NetEase by 4.1% during the 3rd quarter. Northern Trust Corp now owns 219,772 shares of the technology company’s stock valued at $22,012,000 after buying an additional 8,636 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in NetEase during the 3rd quarter valued at approximately $493,000. O Shaughnessy Asset Management LLC grew its holdings in NetEase by 37.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 21,991 shares of the technology company’s stock valued at $2,203,000 after buying an additional 5,937 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in NetEase during the 3rd quarter valued at approximately $12,017,000. 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.