Bank of America Issues Positive Forecast for NetEase (NASDAQ:NTES) Stock Price

NetEase (NASDAQ:NTES - Get Free Report) had its price objective hoisted by equities research analysts at Bank of America from $120.00 to $122.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Bank of America's price objective suggests a potential upside of 17.40% from the company's previous close.

NTES has been the subject of several other research reports. Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Citigroup raised their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Morgan Stanley raised NetEase from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $90.00 to $108.00 in a report on Wednesday, January 8th. Finally, StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, NetEase currently has an average rating of "Moderate Buy" and an average target price of $108.71.

NetEase Price Performance

Shares of NTES traded up $7.89 during midday trading on Wednesday, reaching $103.92. The stock had a trading volume of 3,375,121 shares, compared to its average volume of 1,539,869. The company has a market capitalization of $66.73 billion, a P/E ratio of 17.55, a P/E/G ratio of 3.53 and a beta of 0.57. The firm's 50 day moving average price is $89.12 and its 200-day moving average price is $87.72. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in NetEase during the 4th quarter worth about $34,000. Retireful LLC purchased a new stake in shares of NetEase in the fourth quarter worth approximately $222,000. APEIRON CAPITAL Ltd boosted its holdings in shares of NetEase by 20.5% during the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company's stock worth $11,537,000 after purchasing an additional 22,000 shares during the period. Franklin Resources Inc. grew its position in NetEase by 7.9% during 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 in the last quarter. Finally, World Investment Advisors LLC acquired a new position in NetEase in the 3rd quarter valued at approximately $4,138,000. 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.