NetEase (NASDAQ:NTES) Rating Reiterated by Morgan Stanley

NetEase (NASDAQ:NTES)‘s stock had its “equal weight” rating restated by Morgan Stanley in a research report issued on Friday, Benzinga reports. They currently have a $100.00 price target on the technology company’s stock. Morgan Stanley’s target price indicates a potential upside of 4.25% from the company’s previous close.

Several other analysts have also weighed in on the stock. HSBC decreased their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays began coverage on shares of NetEase in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 target price for the company. Finally, Benchmark boosted their price objective on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.00.

NetEase Trading Up 2.1 %

Shares of NetEase stock opened at $95.92 on Friday. NetEase has a 1 year low of $81.30 and a 1 year high of $118.89. The company’s fifty day simple moving average is $95.04 and its 200-day simple moving average is $98.19. The company has a market cap of $61.60 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.91 and a beta of 0.53.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. As a group, research analysts forecast that NetEase will post 6.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NetEase

Several large investors have recently modified their holdings of the business. Aurora Investment Counsel raised its holdings in shares of NetEase by 6.8% during the first quarter. Aurora Investment Counsel now owns 24,766 shares of the technology company’s stock worth $2,563,000 after acquiring an additional 1,568 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of NetEase by 20.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 181,700 shares of the technology company’s stock valued at $18,800,000 after purchasing an additional 31,400 shares during the period. Advisory Resource Group lifted its holdings in shares of NetEase by 40.1% in the first quarter. Advisory Resource Group now owns 8,335 shares of the technology company’s stock valued at $862,000 after purchasing an additional 2,385 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of NetEase by 21.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,127 shares of the technology company’s stock worth $413,000 after buying an additional 741 shares during the period. Finally, Kingdon Capital Management L.L.C. bought a new position in shares of NetEase during the first quarter worth about $8,795,000. 11.07% of the stock is currently owned by 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.