NetEase (NTES) Upgraded at Zacks Investment Research

NetEase (NASDAQ:NTES) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “

NTES has been the topic of a number of other research reports. Deutsche Bank set a $325.00 target price on NetEase and gave the company a “buy” rating in a report on Friday, October 6th. ValuEngine raised NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Vetr raised NetEase from a “hold” rating to a “buy” rating and set a $363.82 target price on the stock in a report on Monday, January 1st. Barclays initiated coverage on NetEase in a report on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 target price on the stock. Finally, Nomura raised NetEase from a “neutral” rating to a “buy” rating and raised their target price for the company from $297.00 to $428.00 in a report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $339.89.

Shares of NetEase (NTES) opened at $322.08 on Wednesday. The stock has a market capitalization of $42,550.00, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. NetEase has a fifty-two week low of $233.50 and a fifty-two week high of $377.64.

NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, November 15th. The technology company reported $2.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.20. NetEase had a return on equity of 31.84% and a net margin of 25.34%. equities research analysts predict that NetEase will post 12.85 earnings per share for the current year.

NetEase announced that its Board of Directors has approved a share buyback program on Wednesday, November 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in NTES. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of NetEase by 117.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after acquiring an additional 267 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of NetEase by 22.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares during the period. Mariner Wealth Advisors LLC bought a new position in shares of NetEase during the 2nd quarter worth approximately $203,000. Yorktown Management & Research Co Inc bought a new position in shares of NetEase during the 2nd quarter worth approximately $210,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of NetEase during the 2nd quarter worth approximately $218,000. Institutional investors own 50.34% of the company’s stock.

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About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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