Morgan Stanley Boosts NetEase (NASDAQ:NTES) Price Target to $117.00

NetEase (NASDAQ:NTES) had its price target hoisted by equities researchers at Morgan Stanley from $108.00 to $117.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target points to a potential upside of 11.63% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America lifted their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Benchmark reduced their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

NetEase Stock Performance

Shares of NTES stock opened at $104.81 on Wednesday. NetEase has a 1 year low of $75.85 and a 1 year high of $114.50. The stock has a market cap of $67.30 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The business’s fifty day moving average is $96.62 and its 200-day moving average is $89.11.

Institutional Trading of NetEase

Several hedge funds and other institutional investors have recently modified their holdings of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after acquiring an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. raised its holdings in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after buying an additional 1,203,129 shares in the last quarter. Invesco Ltd. raised its holdings in NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company’s stock valued at $211,023,000 after buying an additional 1,107,363 shares in the last quarter. FIL Ltd raised its holdings in NetEase by 160.2% during the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company’s stock valued at $148,834,000 after buying an additional 1,027,102 shares in the last quarter. Finally, Mawer Investment Management Ltd. bought a new position in NetEase during the fourth quarter valued at about $62,593,000. 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.