Zacks Investment Research Upgrades NetEase, Inc. (NTES) to Hold

Zacks Investment Research upgraded shares of NetEase, Inc. (NASDAQ:NTES) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

NTES has been the subject of several other research reports. Deutsche Bank AG set a $325.00 price target on NetEase and gave the stock a buy rating in a research note on Friday, October 6th. Barclays PLC initiated coverage on NetEase in a research note on Wednesday, October 4th. They set an equal weight rating and a $260.00 price target for the company. CLSA lowered NetEase from an outperform rating to an underperform rating in a research note on Thursday, August 10th. BidaskClub raised NetEase from a hold rating to a buy rating in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $330.00 price target on shares of NetEase in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase has an average rating of Hold and an average target price of $298.82.

NetEase (NASDAQ NTES) opened at 279.65 on Wednesday. The firm has a 50-day moving average price of $271.57 and a 200 day moving average price of $285.82. NetEase has a 52-week low of $211.11 and a 52-week high of $337.55. The company has a market capitalization of $36.86 billion, a P/E ratio of 18.13 and a beta of 0.94.

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Several hedge funds have recently bought and sold shares of NTES. BlackRock Inc. grew its holdings in shares of NetEase by 1,571.4% during the 1st quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock worth $1,431,127,000 after acquiring an additional 4,737,686 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of NetEase during the 2nd quarter worth approximately $287,603,000. FMR LLC grew its holdings in shares of NetEase by 63.3% during the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after acquiring an additional 841,692 shares during the period. Fisher Asset Management LLC grew its holdings in shares of NetEase by 142.3% during the 2nd quarter. Fisher Asset Management LLC now owns 839,739 shares of the technology company’s stock worth $252,451,000 after acquiring an additional 493,209 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of NetEase by 20.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after acquiring an additional 456,300 shares during the period. Hedge funds and other institutional investors own 50.38% 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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