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

NetEase (NASDAQ:NTES) had its price target boosted by analysts at Morgan Stanley from $108.00 to $117.00 in a research 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 objective suggests a potential upside of 6.49% from the stock’s current price.

Several other brokerages have also commented on NTES. Bank of America raised their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark dropped their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.00.

NetEase Stock Performance

NetEase stock traded up $4.38 during midday trading on Wednesday, hitting $109.87. 751,479 shares of the company were exchanged, compared to its average volume of 1,266,198. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The business has a fifty day simple moving average of $96.25 and a two-hundred day simple moving average of $88.97. The firm has a market capitalization of $70.55 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58.

Hedge Funds Weigh In On NetEase

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in NetEase by 27.3% during the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after buying an additional 8,248 shares in the last quarter. WT Asset Management Ltd purchased a new position in NetEase during the fourth quarter worth approximately $2,624,000. SG Americas Securities LLC purchased a new position in NetEase during the fourth quarter worth approximately $654,000. State of New Jersey Common Pension Fund D lifted its position in NetEase by 87.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock worth $7,040,000 after buying an additional 35,031 shares in the last quarter. Finally, APEIRON CAPITAL Ltd lifted its position in 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 buying an additional 22,000 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.