BidaskClub upgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.

Several other equities analysts have also issued reports on NTES. Barclays reaffirmed a hold rating and set a $275.00 price objective (up previously from $255.00) on shares of NetEase in a report on Saturday, July 28th. Macquarie lowered NetEase from an outperform rating to a neutral rating in a report on Thursday, August 9th. JPMorgan Chase & Co. dropped their price objective on NetEase from $290.00 to $265.00 and set an overweight rating on the stock in a report on Friday, August 10th. Nomura dropped their price objective on NetEase from $386.00 to $352.00 and set a buy rating on the stock in a report on Friday, August 10th. Finally, ValuEngine lowered NetEase from a sell rating to a strong sell rating in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $311.92.

Shares of NTES stock traded down $9.49 during mid-day trading on Wednesday, hitting $221.91. 1,449,890 shares of the stock were exchanged, compared to its average volume of 852,262. The firm has a market cap of $30.87 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.53 and a beta of 0.96. NetEase has a 12-month low of $184.60 and a 12-month high of $377.64.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.82. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.61 billion. NetEase had a return on equity of 14.57% and a net margin of 11.49%. On average, research analysts forecast that NetEase will post 7.34 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comgest Global Investors S.A.S. grew its holdings in shares of NetEase by 0.6% during the third quarter. Comgest Global Investors S.A.S. now owns 2,244,860 shares of the technology company’s stock worth $512,389,000 after buying an additional 12,700 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of NetEase by 0.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,121,223 shares of the technology company’s stock worth $283,299,000 after buying an additional 6,926 shares during the last quarter. Vontobel Asset Management Inc. purchased a new position in shares of NetEase during the second quarter worth about $256,375,000. FIL Ltd grew its holdings in shares of NetEase by 24.1% during the third quarter. FIL Ltd now owns 887,590 shares of the technology company’s stock worth $202,593,000 after buying an additional 172,169 shares during the last quarter. Finally, Overlook Holdings Ltd grew its holdings in shares of NetEase by 13.5% during the third quarter. Overlook Holdings Ltd now owns 858,938 shares of the technology company’s stock worth $195,967,000 after buying an additional 102,316 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for NetEase (NASDAQ:NTES)

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