Benchmark Cuts NetEase (NASDAQ:NTES) Price Target to $105.00

NetEase (NASDAQ:NTES) had its price objective cut by Benchmark from $120.00 to $105.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays cut their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Bank of America dropped their price objective 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, Jefferies Financial Group dropped their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Price Performance

NASDAQ:NTES opened at $85.49 on Friday. The stock has a market cap of $54.90 billion, a P/E ratio of 14.44, a PEG ratio of 1.89 and a beta of 0.57. NetEase has a one year low of $75.85 and a one year high of $118.89. The company has a fifty day moving average price of $83.75 and a 200 day moving average price of $88.95.

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

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s payout ratio is 29.22%.

Institutional Investors Weigh In On NetEase

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of NetEase in the 3rd quarter worth about $11,636,000. MML Investors Services LLC grew its holdings in shares of NetEase by 12.1% in the 3rd quarter. MML Investors Services LLC now owns 3,954 shares of the technology company’s stock worth $370,000 after purchasing an additional 428 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of NetEase in the 3rd quarter worth about $274,000. Kovitz Investment Group Partners LLC grew its holdings in NetEase by 75.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 14,167 shares of the technology company’s stock worth $1,323,000 after acquiring an additional 6,099 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in NetEase by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock worth $95,400,000 after acquiring an additional 10,920 shares during the last quarter. 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.