Benchmark Forecasts Strong Price Appreciation for NetEase (NASDAQ:NTES) Stock

NetEase (NASDAQ:NTES) had its price target raised by equities research analysts at Benchmark from $145.00 to $158.00 in a research note issued on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s price objective indicates a potential upside of 18.28% from the company’s previous close.

A number of other equities analysts have also recently commented on NTES. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $190.00 in a research note on Friday, October 10th. Sanford C. Bernstein set a $155.00 target price on NetEase in a research report on Friday. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price target on shares of NetEase in a report on Wednesday, October 8th. Finally, Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.10.

NetEase Stock Down 0.3%

Shares of NTES opened at $133.58 on Friday. The business has a fifty day moving average of $146.45 and a 200 day moving average of $135.61. The company has a market cap of $84.64 billion, a PE ratio of 18.08, a P/E/G ratio of 1.91 and a beta of 0.65. NetEase has a 52-week low of $84.97 and a 52-week high of $159.55.

Institutional Investors Weigh In On NetEase

Several hedge funds have recently made changes to their positions in the company. NewSquare Capital LLC increased its stake in shares of NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after buying an additional 107 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in NetEase during the 1st quarter worth about $26,000. Private Trust Co. NA increased its position in NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. USA Financial Formulas bought a new stake in shares of NetEase in the 2nd quarter valued at about $30,000. Finally, Reyes Financial Architecture Inc. raised its holdings in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

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.