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

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

Several other research analysts also recently issued reports on the stock. StockNews.com downgraded 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 objective on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays dropped their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.29.

NetEase Price Performance

Shares of NTES traded up $1.27 during trading hours on Friday, hitting $85.49. The stock had a trading volume of 2,041,932 shares, compared to its average volume of 1,748,095. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.69 and a beta of 0.57. The company’s fifty day moving average is $83.75 and its two-hundred day moving average is $89.01. NetEase has a 52 week low of $75.85 and a 52 week high of $118.89.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share 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 26.98% and a return on equity of 22.30%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.75 earnings per share. Equities analysts predict that NetEase will post 6.02 EPS for the current fiscal year.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 2.04%. NetEase’s payout ratio is currently 28.22%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. raised its position in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after acquiring an additional 1,203,129 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in NetEase in the first quarter valued at $103,658,000. Lazard Asset Management LLC grew its position in shares of NetEase by 804.5% in the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after acquiring an additional 704,753 shares during the period. Finally, Point72 Hong Kong Ltd raised 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. 11.07% of the stock is owned by institutional investors and hedge funds.

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.