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

NetEase (NASDAQ:NTES) had its price target dropped by investment analysts at Benchmark from $120.00 to $105.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price target would suggest a potential upside of 24.67% from the stock’s previous close.

NTES has been the topic of several other research reports. Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Bank of America dropped their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. 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 report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

NetEase Stock Up 10.4 %

Shares of NASDAQ NTES opened at $84.22 on Friday. The business has a 50-day simple moving average of $83.47 and a two-hundred day simple moving average of $89.12. NetEase has a 52 week low of $75.85 and a 52 week high of $118.89. The company has a market cap of $54.08 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.69 and a beta of 0.57.

NetEase (NASDAQ:NTES) last posted 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 business had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. Equities research analysts anticipate that NetEase will post 6.02 EPS for the current year.

Institutional Trading of NetEase

Several hedge funds have recently added to or reduced their stakes in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 last quarter. Hhlr Advisors LTD. boosted its holdings in NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after acquiring an additional 1,203,129 shares during the period. Massachusetts Financial Services Co. MA grew 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 worth $161,789,000 after acquiring an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after purchasing an additional 632,896 shares during the period. Finally, Fisher Asset Management LLC increased its stake in 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 purchasing an additional 82,474 shares during the period. 11.07% of the stock is 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.