NetEase (NASDAQ:NTES) Price Target Raised to $115.00

NetEase (NASDAQ:NTES) had its price objective raised by Citigroup from $108.00 to $115.00 in a report released on Friday,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

Several other brokerages have also issued reports on NTES. Bank of America lowered their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Jefferies Financial Group dropped their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Barclays decreased their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Trading Up 1.5 %

NTES stock opened at $85.49 on Friday. The stock has a 50-day moving average price of $83.75 and a two-hundred day moving average price of $88.95. NetEase has a 1 year low of $75.85 and a 1 year high of $118.89. The stock has a market cap of $54.90 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.89 and a beta of 0.57.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 21.14% and a net margin of 26.02%. The firm had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. During the same quarter in the previous year, the business posted $1.75 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that NetEase will post 6.08 earnings per share for the current fiscal year.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio is 29.22%.

Hedge Funds Weigh In On NetEase

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. grew its stake in NetEase by 10.8% in the 1st quarter. QRG Capital Management Inc. now owns 6,808 shares of the technology company’s stock valued at $704,000 after buying an additional 664 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in NetEase by 117.6% during the 1st quarter. Bleakley Financial Group LLC now owns 5,047 shares of the technology company’s stock worth $522,000 after purchasing an additional 2,728 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in NetEase by 79.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 12,677 shares of the technology company’s stock valued at $1,312,000 after purchasing an additional 5,595 shares during the period. Twin Tree Management LP grew its holdings in NetEase by 116.8% in the 1st quarter. Twin Tree Management LP now owns 19,077 shares of the technology company’s stock valued at $1,974,000 after buying an additional 132,477 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in NetEase by 4.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 134,344 shares of the technology company’s stock worth $13,261,000 after buying an additional 6,065 shares during the period. 11.07% of the stock is owned by institutional investors.

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.