StockNews.com Initiates Coverage on NetEase (NASDAQ:NTES)

Equities researchers at StockNews.com began coverage on shares of NetEase (NASDAQ:NTES – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. HSBC reduced their target price on NetEase from $122.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 18th. Citigroup upped their target price on NetEase from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. TheStreet raised NetEase from a “c+” rating to a “b-” rating in a research note on Wednesday, January 18th. Morgan Stanley boosted their price target on NetEase from $85.00 to $95.00 in a research report on Wednesday, December 14th. Finally, JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, February 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $112.67.

NetEase Trading Up 2.0 %

Shares of NTES stock opened at $85.51 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.32 and a quick ratio of 2.30. The company has a market cap of $55.99 billion, a price-to-earnings ratio of 18.79 and a beta of 0.49. The stock has a 50 day simple moving average of $86.21 and a 200-day simple moving average of $77.36. NetEase has a 1-year low of $53.09 and a 1-year high of $108.77.

Institutional Trading of NetEase

Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank increased its position in shares of NetEase by 36.7% during the fourth quarter. Huntington National Bank now owns 432 shares of the technology company’s stock valued at $31,000 after acquiring an additional 116 shares during the last quarter. CI Investments Inc. increased its position in shares of NetEase by 25.3% during the second quarter. CI Investments Inc. now owns 643 shares of the technology company’s stock valued at $60,000 after acquiring an additional 130 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of NetEase by 3.2% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,295 shares of the technology company’s stock valued at $312,000 after acquiring an additional 134 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of NetEase by 9.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,628 shares of the technology company’s stock valued at $118,000 after acquiring an additional 138 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of NetEase by 2.6% during the third quarter. Pacer Advisors Inc. now owns 5,957 shares of the technology company’s stock valued at $450,000 after acquiring an additional 150 shares during the last quarter. 13.50% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.