NetEase (NASDAQ:NTES) Shares Gap Up – What’s Next?

Shares of NetEase, Inc. (NASDAQ:NTES) gapped up prior to trading on Thursday . The stock had previously closed at $97.41, but opened at $101.75. NetEase shares last traded at $100.69, with a volume of 169,543 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on NTES. Morgan Stanley raised their price objective on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Bank of America raised their target price on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Benchmark upped their price target on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Barclays lifted their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average price target of $114.57.

NetEase Stock Up 2.1 %

The company’s 50 day simple moving average is $100.86 and its two-hundred day simple moving average is $94.24. The company has a market capitalization of $63.87 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 3.37 and a beta of 0.65.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.435 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.75%. NetEase’s payout ratio is 76.45%.

Hedge Funds Weigh In On NetEase

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Brooklyn Investment Group purchased a new stake in NetEase in the fourth quarter valued at approximately $34,000. UMB Bank n.a. raised its position in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the last quarter. Live Oak Investment Partners acquired a new stake in NetEase during the 4th quarter valued at approximately $62,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of NetEase by 148.9% in the 4th quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after acquiring an additional 594 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

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.