Brokerages Set NetEase, Inc. (NASDAQ:NTES) PT at $114.57

NetEase, Inc. (NASDAQ:NTES) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $114.57.

A number of equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays boosted their price target 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. Bank of America boosted their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Benchmark boosted their price target on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 21st.

Institutional Investors Weigh In On NetEase

Several large investors have recently made changes to their positions in NTES. Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase in the 3rd quarter worth about $76,000. Financial Advocates Investment Management raised 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 valued at $435,000 after acquiring an additional 237 shares during the period. Coronation Fund Managers Ltd. raised its position in shares of NetEase by 54.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 161,780 shares of the technology company’s stock valued at $15,128,000 after acquiring an additional 56,997 shares during the period. Van ECK Associates Corp raised its position in shares of NetEase by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company’s stock valued at $62,316,000 after acquiring an additional 72,988 shares during the period. Finally, Veritas Asset Management LLP acquired a new stake in shares of NetEase in the 3rd quarter valued at approximately $5,150,000. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 0.8 %

Shares of NTES stock opened at $102.78 on Monday. NetEase has a 1 year low of $75.85 and a 1 year high of $111.12. The firm’s fifty day simple moving average is $99.41 and its 200 day simple moving average is $90.52. The firm has a market capitalization of $66.00 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61.

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

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, March 6th. NetEase’s payout ratio is 76.45%.

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.