NetEase, Inc. (NASDAQ:NTES) Receives $107.29 Average Target Price from Brokerages

NetEase, Inc. (NASDAQ:NTES) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $107.29.

Several research firms have recently issued reports on NTES. Citigroup increased their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Benchmark decreased their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Barclays lowered their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NetEase by 13,747.9% during the third 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 buying an additional 6,213,248 shares during the period. Hhlr Advisors LTD. increased its holdings in shares of NetEase by 86.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after purchasing an additional 1,203,129 shares during the period. Point72 Hong Kong Ltd increased its holdings in shares of NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after purchasing an additional 632,896 shares during the period. Temasek Holdings Private Ltd purchased a new stake in shares of NetEase in the third quarter worth approximately $51,498,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of NetEase by 472.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock worth $39,087,000 after purchasing an additional 345,000 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NTES stock opened at $92.09 on Wednesday. NetEase has a 12-month low of $75.85 and a 12-month high of $114.50. The firm has a market capitalization of $59.14 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The business has a 50 day simple moving average of $85.66 and a 200 day simple moving average of $88.00.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s payout ratio is 29.22%.

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.