NetEase (NASDAQ:NTES) Stock Price Expected to Rise, Bank of America Analyst Says

NetEase (NASDAQ:NTES) had its price objective boosted by analysts at Bank of America from $120.00 to $122.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 18.55% from the stock’s current price.

Several other brokerages also recently weighed in on NTES. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Benchmark dropped their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.71.

NetEase Stock Performance

Shares of NetEase stock traded up $6.88 on Wednesday, hitting $102.91. The company’s stock had a trading volume of 1,510,092 shares, compared to its average volume of 1,325,201. The company has a market capitalization of $66.08 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The firm has a fifty day moving average price of $89.12 and a 200-day moving average price of $87.72. NetEase has a 1 year low of $75.85 and a 1 year high of $114.50.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in NetEase during the 4th quarter valued at about $34,000. Retireful LLC purchased a new stake in shares of NetEase in the fourth quarter valued at approximately $222,000. APEIRON CAPITAL Ltd increased its holdings in shares of NetEase by 20.5% in the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after purchasing an additional 22,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of NetEase by 7.9% in the third quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company’s stock valued at $588,000 after purchasing an additional 507 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in NetEase during the third quarter worth approximately $4,138,000. 11.07% of the stock is 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.