NetEase (NASDAQ: NTES) was given a “strong-buy” rating by StockNews.com in a report published on Wednesday. Previously, the company had been given a “buy” recommendation.
Several other equity analysts have recently indicated that they are interested in NTES. JPMorgan Chase & Co. lowered their target price for NetEase from $120.00 to $90.00 and downgraded the firm from “overweight” to “neutral” in a report that was released on September 7th. HSBC lowered their target price for NetEase from $120.00 to $105.00 and gave the company a “buy” rating in a report released on Friday, November 18th. HSBC’s analysis can be found here. TheStreet lowered its rating of NetEase from a “b-” to a “c” in a report on the company’s performance released on November 7th. In the end, Citigroup increased their price objective on NetEase from $98.00 to $100.00 and awarded the company a “buy” rating in a research report published on Friday, November 18th. The stock has been rated “hold” by one analyst, “buy” by five, and “strong buy” by one other analyst. According to Bloomberg, the firm is projected to reach a price of $111.50 and has a consensus recommendation of “buy.”
The price of a share of NetEase was $65.50 when the market started on Wednesday. The company’s simple moving average for the past 50 days is $70.00, and the simple moving average for the past 200 days is $84.90. The lowest price that NetEase has been at in the past year is $53.09, while its all-time high is $115.50. The share price currently sits at a P/E ratio of 13.07, a PEG ratio of 1.17, and a beta value of 0.37. The market capitalization of the company is $42.89 billion. The debt-to-equity ratio comes in at 0.03, the current ratio comes in at 2.31, and the quick ratio comes in at 2.29.
Recent months have seen the number of hedge funds increase or decrease their company ownership. UBS Asset Management Americas Inc. boosted its holdings in NetEase by 5.3% during the third quarter of this fiscal year. UBS Asset Management Americas Inc. now owns 8,784,849 shares of the technology company’s stock after purchasing 441,250 additional shares. The value of the company’s stock holdings is $664,135,000. Ninety One UK Ltd. grew its interest in NetEase by 14.4% during the first quarter of the fiscal year. Ninety One UK Ltd now owns 6,003,637 shares of the technology company’s stock after purchasing an additional 757,084 shares. The current market value of these shares is $538,197. FMR LLC boosted its stake in NetEase by 7.8% during the second quarter of this fiscal year. FMR LLC now owns 3,870,191 shares of the technology company’s stock, which have a combined worth of $361,322,000 after acquiring an additional 281,489 shares during the period. Greenwoods Asset Management Hong Kong Ltd. boosted its position in NetEase by 16.5% during the third quarter of the current fiscal year. After making purchases totaling 362,619 shares during the time frame in question, Greenwoods Asset Management Hong Kong Ltd. now holds a total of 2,561,839 shares of the technology company’s stock, which has a market value of $193,675,000. Finally, throughout the first three months of the year, E Fund Management Co. Ltd. boosted the percentage of NetEase stock owned by 31.1 percent. E Fund Management Co. Ltd. now has a total of 2,250,523 shares of the technology company’s stock, valued at $201,849,000 thanks to the acquisition of an additional 534,272 shares during that time. Currently, hedge funds and other institutional investors own 14.76% of the company’s shares.
NetEase, Inc. is a Chinese corporation that provides online services in China and around the world, with a particular emphasis on a wide variety of content, communities, communication, and commercial transactions. The company is organized into three divisions: Innovative Businesses and Others, Online Game Services, and Youdao and Cloud Music, respectively. It develops, manages, and publishes games for personal computers and mobile devices and licenses games created by other game developers.