NetEase (NASDAQ:NTES) Price Target Raised to $104.00

NetEase (NASDAQ:NTES) had its target price boosted by Barclays from $82.00 to $104.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America upped their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Benchmark lifted their target price on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $114.57.

NetEase Trading Up 1.7 %

Shares of NASDAQ NTES opened at $101.27 on Monday. NetEase has a 12-month low of $75.85 and a 12-month high of $114.50. The company has a market cap of $65.03 billion, a PE ratio of 15.90, a P/E/G ratio of 3.37 and a beta of 0.58. The stock has a 50 day simple moving average of $98.20 and a 200-day simple moving average of $89.99.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Sell-side analysts forecast that NetEase will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.435 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.72%. NetEase’s dividend payout ratio (DPR) is 76.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTES. Allspring Global Investments Holdings LLC bought a new stake in NetEase in the third quarter worth $76,000. Arkadios Wealth Advisors acquired a new position in shares of NetEase during the third quarter valued at about $297,000. Highline Wealth Partners LLC acquired a new position in NetEase in the 3rd quarter valued at approximately $45,000. Financial Advocates Investment Management lifted its position in shares of NetEase by 5.4% in the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after acquiring an additional 237 shares during the period. Finally, Caas Capital Management LP grew its holdings in shares of NetEase by 225.3% during the 3rd quarter. Caas Capital Management LP now owns 16,267 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 11,267 shares in the last quarter. 11.07% of the stock is currently 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.