Zacks Investment Research Upgrades NetEase, Inc. (NTES) to Strong-Buy

NetEase, Inc. (NASDAQ:NTES) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, July 12th. The firm currently has a $346.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.89% from the stock’s previous close.

According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “

Other analysts have also recently issued research reports about the stock. Vetr raised shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $334.49 price target on the stock in a research report on Tuesday, March 14th. Benchmark Co. initiated coverage on shares of NetEase in a research report on Tuesday, April 18th. They set a “buy” rating and a $325.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of NetEase in a research report on Wednesday, April 26th. Instinet reaffirmed a “buy” rating and set a $307.00 price target on shares of NetEase in a research report on Tuesday, May 9th. Finally, Nomura reaffirmed a “hold” rating and set a $297.00 price target (down previously from $305.00) on shares of NetEase in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $298.02.

Shares of NetEase (NASDAQ NTES) opened at 309.22 on Wednesday. The company’s 50-day moving average price is $308.65 and its 200 day moving average price is $285.85. NetEase has a 52 week low of $197.65 and a 52 week high of $337.55. The firm has a market cap of $40.67 billion, a P/E ratio of 21.16 and a beta of 0.92.

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Several large investors have recently bought and sold shares of NTES. Assetmark Inc. raised its stake in NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares in the last quarter. IFP Advisors Inc raised its stake in NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after buying an additional 69 shares in the last quarter. Howe & Rusling Inc. raised its stake in NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares in the last quarter. Private Advisory Group LLC acquired a new stake in NetEase during the first quarter worth $205,000. Finally, Huntington National Bank raised its stake in NetEase by 84.7% in the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after buying an additional 321 shares in the last quarter. Institutional investors own 55.53% of the company’s stock.

NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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