NetEase (NASDAQ:NTES) Upgraded by Morgan Stanley to Overweight Rating

NetEase (NASDAQ:NTES - Get Free Report) was upgraded by equities researchers at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report released on Wednesday, Marketbeat reports. The firm currently has a $108.00 target price on the technology company's stock, up from their prior target price of $90.00. Morgan Stanley's price target would indicate a potential upside of 17.04% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Citigroup upped their target price on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, November 15th. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 6th. Finally, Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.43.

NetEase Price Performance

NTES traded up $2.56 during midday trading on Wednesday, reaching $92.28. 1,065,673 shares of the company's stock were exchanged, compared to its average volume of 983,514. NetEase has a 1-year low of $75.85 and a 1-year high of $114.50. The stock has a market capitalization of $59.26 billion, a PE ratio of 15.59, a P/E/G ratio of 3.53 and a beta of 0.57. The business's 50-day moving average price is $88.02 and its 200 day moving average price is $87.80.

Institutional Trading of NetEase

A number of hedge funds have recently added to or reduced their stakes in the business. Guinness Asset Management LTD increased its stake in shares of NetEase by 16.7% during the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company's stock valued at $8,111,000 after acquiring an additional 12,410 shares during the last quarter. Assetmark Inc. grew its holdings in NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company's stock valued at $3,597,000 after purchasing an additional 8,248 shares during the period. Dimensional Fund Advisors LP increased its position in NetEase by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company's stock worth $54,502,000 after purchasing an additional 76,446 shares during the last quarter. Cetera Investment Advisers raised its stake in NetEase by 56.8% during the second quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company's stock worth $1,637,000 after purchasing an additional 6,203 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NetEase in the 2nd quarter valued at $604,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.