NetEase Inc (NTES) Receives Average Rating of “Hold” from Analysts
NetEase Inc (NASDAQ:NTES) has been assigned a consensus rating of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $349.19.
Several equities analysts recently commented on NTES shares. Goldman Sachs Group reaffirmed a “buy” rating and set a $432.00 price target (up previously from $340.00) on shares of NetEase in a research report on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised shares of NetEase from a “strong sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub lowered shares of NetEase from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Vetr raised shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 price target for the company in a research report on Wednesday, January 10th. Finally, Barclays set a $315.00 price target on shares of NetEase and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd.
Shares of NetEase (NASDAQ NTES) traded up $3.36 on Friday, hitting $325.55. 1,410,000 shares of the company traded hands, compared to its average volume of 1,360,000. The stock has a market capitalization of $43,010.00, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94. NetEase has a fifty-two week low of $236.08 and a fifty-two week high of $377.64.
NetEase declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Several hedge funds have recently made changes to their positions in NTES. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of NetEase by 117.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after purchasing an additional 267 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after purchasing an additional 98 shares during the period. Mariner Wealth Advisors LLC purchased a new position in shares of NetEase in the second quarter valued at $203,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of NetEase in the second quarter valued at $218,000. Finally, ETF Managers Group LLC purchased a new position in shares of NetEase in the second quarter valued at $219,000. Institutional investors and hedge funds own 50.34% of the company’s stock.
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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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