NetEase (NASDAQ:NTES) Price Target Raised to $117.00

NetEase (NASDAQ:NTES) had its price objective increased by Morgan Stanley from $108.00 to $117.00 in a research report sent to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also commented on NTES. Citigroup boosted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock 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, Bank of America raised their target price on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and an average price target of $110.00.

NetEase Trading Down 1.2 %

NTES stock opened at $103.50 on Wednesday. The firm has a 50 day moving average of $96.91 and a 200-day moving average of $89.22. The firm has a market capitalization of $66.46 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NTES. Vontobel Holding Ltd. grew its holdings in shares of NetEase by 154.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 72,220 shares of the technology company’s stock valued at $6,753,000 after purchasing an additional 43,836 shares during the last quarter. Naviter Wealth LLC boosted its position in NetEase by 28.4% during the third quarter. Naviter Wealth LLC now owns 8,427 shares of the technology company’s stock valued at $788,000 after buying an additional 1,865 shares during the period. Marshall Financial Group LLC grew its stake in shares of NetEase by 2.2% during the third quarter. Marshall Financial Group LLC now owns 18,254 shares of the technology company’s stock valued at $1,707,000 after buying an additional 386 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of NetEase by 44.6% in the third quarter. Blue Trust Inc. now owns 4,509 shares of the technology company’s stock worth $431,000 after buying an additional 1,391 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in NetEase during the 3rd quarter valued at about $76,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

About NetEase

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.