NetEase (NASDAQ:NTES) Rating Lowered to “Buy” at Wall Street Zen

NetEase (NASDAQ:NTES) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities research analysts also recently weighed in on NTES. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research note on Monday, May 12th. They set a “buy” rating and a $130.00 price target for the company. JPMorgan Chase & Co. lowered shares of NetEase from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Finally, Barclays lifted their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

NetEase Trading Down 0.3%

NASDAQ:NTES opened at $129.22 on Friday. The stock has a market capitalization of $81.87 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 4.50 and a beta of 0.67. The firm has a 50 day moving average of $132.01 and a 200-day moving average of $114.88. NetEase has a 1 year low of $75.85 and a 1 year high of $141.45.

Institutional Investors Weigh In On NetEase

Several institutional investors have recently added to or reduced their stakes in the stock. NewSquare Capital LLC raised its holdings in shares of NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares during the period. Private Trust Co. NA grew its position in shares of NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. USA Financial Formulas bought a new stake in shares of NetEase in the second quarter valued at approximately $30,000. Reyes Financial Architecture Inc. boosted its position in shares of NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after acquiring an additional 226 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of NetEase during the 2nd quarter worth approximately $33,000. 11.07% of the stock is owned by institutional investors.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.