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

NetEase (NASDAQ:NTES) had its price target raised by Citigroup from $108.00 to $115.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also commented on the company. Bank of America reduced their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays reduced their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Jefferies Financial Group decreased their price target on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Benchmark cut their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Price Performance

Shares of NetEase stock opened at $88.26 on Friday. The company has a 50 day simple moving average of $83.96 and a two-hundred day simple moving average of $88.87. The firm has a market cap of $56.68 billion, a PE ratio of 14.91, a PEG ratio of 1.89 and a beta of 0.57. NetEase has a 1 year low of $75.85 and a 1 year high of $118.89.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. NetEase had a net margin of 26.02% and a return on equity of 21.14%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 earnings per share. As a group, research analysts anticipate that NetEase will post 6.08 earnings per share for the current year.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio (DPR) is currently 29.22%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NetEase by 13,747.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after purchasing an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. lifted its holdings in NetEase by 86.8% in the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after buying an additional 1,203,129 shares during the period. Massachusetts Financial Services Co. MA boosted its position in NetEase by 6.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock valued at $161,789,000 after acquiring an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after acquiring an additional 632,896 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of NetEase by 7.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after acquiring an additional 82,474 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

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.