NetEase (NASDAQ:NTES) Stock Price Expected to Rise, Benchmark Analyst Says

NetEase (NASDAQ:NTES) had its target price raised by analysts at Benchmark from $105.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s target price would indicate a potential upside of 10.90% from the company’s previous close.

NTES has been the topic of several other research reports. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Bank of America lifted their price target on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Citigroup increased their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley lifted their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $111.43.

NetEase Price Performance

Shares of NetEase stock traded up $2.27 on Friday, hitting $103.69. The company had a trading volume of 475,068 shares, compared to its average volume of 1,334,953. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50. The company has a market cap of $66.59 billion, a PE ratio of 17.51, a PEG ratio of 3.46 and a beta of 0.58. The business has a 50-day simple moving average of $97.61 and a 200-day simple moving average of $89.64.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $27.16 billion. NetEase had a return on equity of 20.82% and a net margin of 26.02%. On average, equities research analysts predict that NetEase will post 6.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after acquiring an additional 152 shares during the period. Brooklyn Investment Group purchased a new stake in shares of NetEase in the fourth quarter worth approximately $34,000. UMB Bank n.a. boosted its holdings in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares during the period. Highline Wealth Partners LLC purchased a new position in NetEase during the third quarter valued at approximately $45,000. Finally, Live Oak Investment Partners acquired a new position in NetEase in the 4th quarter valued at approximately $62,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.