BidaskClub Lowers NetEase (NTES) to Strong Sell

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NetEase (NASDAQ:NTES) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

Several other brokerages also recently issued reports on NTES. ValuEngine downgraded shares of NetEase from a “sell” rating to a “strong sell” rating in a report on Friday, August 10th. Nomura reduced their price target on shares of NetEase from $386.00 to $352.00 and set a “buy” rating for the company in a report on Friday, August 10th. Barclays reduced their price target on shares of NetEase from $275.00 to $260.00 and set a “hold” rating for the company in a report on Thursday, August 30th. Zacks Investment Research raised shares of NetEase from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Benchmark reduced their price target on shares of NetEase from $355.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, May 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $324.46.

Shares of NTES opened at $191.19 on Friday. NetEase has a 1 year low of $188.72 and a 1 year high of $377.64. The firm has a market cap of $25.97 billion, a PE ratio of 15.41, a PEG ratio of 1.71 and a beta of 0.80.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.82. NetEase had a net margin of 11.49% and a return on equity of 14.57%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.61 billion. sell-side analysts expect that NetEase will post 7.01 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. lifted its holdings in NetEase by 1.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 16,426 shares of the technology company’s stock worth $4,605,000 after purchasing an additional 220 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in NetEase by 96.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after purchasing an additional 227 shares during the period. LPL Financial LLC lifted its holdings in NetEase by 3.2% in the first quarter. LPL Financial LLC now owns 7,624 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 235 shares during the period. CIBC Asset Management Inc lifted its holdings in NetEase by 4.0% in the second quarter. CIBC Asset Management Inc now owns 6,187 shares of the technology company’s stock worth $1,563,000 after purchasing an additional 237 shares during the period. Finally, Banque Pictet & Cie SA raised its position in NetEase by 18.8% in the second quarter. Banque Pictet & Cie SA now owns 1,854 shares of the technology company’s stock worth $468,000 after acquiring an additional 294 shares in the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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