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NetEase(NTES) in Focus: Stock Moves 10.4% Higher

Zacks

NetEase, Inc. NTES was a big mover last session, as the company saw its shares rise over 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $268.80–$283.53 in the past one-month time frame, witnessed a sharp increase yesterday.

The shares rose after the reports surfaced that the company was increasing its spending on foreign products to sell to Chinese consumers.

The company has seen no estimate revisions over the past one month, and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

NetEase, Inc. Price and Consensus


NetEase currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better ranked stock in the Internet – Software and Services industry is Okta, Inc. OKTA which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is NTES going up? Or down? Predict to see what others think: Up or Down

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