NetEase (NASDAQ:NTES) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

NetEase (NASDAQ:NTES) released its quarterly earnings results on Thursday. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14, Zacks reports. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a return on equity of 20.82% and a net margin of 26.02%.

NetEase Trading Up 1.8 %

NTES traded up $1.86 during midday trading on Friday, hitting $103.28. The company’s stock had a trading volume of 521,799 shares, compared to its average volume of 1,335,835. NetEase has a 52-week low of $75.85 and a 52-week high of $114.50. The firm has a 50-day moving average price of $97.61 and a two-hundred day moving average price of $89.64. The firm has a market cap of $66.32 billion, a P/E ratio of 17.49, a PEG ratio of 3.46 and a beta of 0.58.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Benchmark lifted their price objective on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup upped their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Bank of America raised their price target on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.43.

About NetEase

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.