Zacks Investment Research upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. They currently have $272.00 price objective on the technology company’s stock.

According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “

Several other brokerages also recently commented on NTES. ValuEngine upgraded shares of XPO Logistics from a strong sell rating to a sell rating in a research report on Thursday, April 4th. Benchmark reiterated a buy rating and set a $305.00 price target (up from $295.00) on shares of NetEase in a report on Thursday, May 16th. Barclays upped their price target on shares of NetEase from $300.00 to $320.00 and gave the stock an overweight rating in a report on Monday, May 20th. TH Capital upped their price target on shares of NetEase from $270.00 to $310.00 and gave the stock a buy rating in a report on Monday, May 13th. Finally, BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $276.55.

Shares of NTES opened at $238.96 on Wednesday. NetEase has a one year low of $184.60 and a one year high of $289.68. The firm has a market capitalization of $31.53 billion, a P/E ratio of 34.78, a P/E/G ratio of 1.84 and a beta of 0.85. The company’s 50 day moving average price is $258.31.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, May 15th. The technology company reported $2.75 EPS for the quarter, beating the consensus estimate of $1.86 by $0.89. NetEase had a net margin of 10.94% and a return on equity of 17.05%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. As a group, research analysts predict that NetEase will post 8.77 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC purchased a new stake in NetEase in the 2nd quarter valued at about $160,000. Wetherby Asset Management Inc. increased its stake in NetEase by 3.6% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,827 shares of the technology company’s stock valued at $467,000 after buying an additional 63 shares during the last quarter. Quadrant Capital Group LLC increased its stake in NetEase by 87.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 924 shares of the technology company’s stock valued at $234,000 after buying an additional 432 shares during the last quarter. Segantii Capital Management Ltd increased its stake in NetEase by 16.7% in the 2nd quarter. Segantii Capital Management Ltd now owns 6,468 shares of the technology company’s stock valued at $1,654,000 after buying an additional 924 shares during the last quarter. Finally, Huntington National Bank increased its stake in NetEase by 101.0% in the 2nd quarter. Huntington National Bank now owns 209 shares of the technology company’s stock valued at $53,000 after buying an additional 105 shares during the last quarter. 45.93% of the stock is currently owned by institutional investors.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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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