NetEase, Inc. (NASDAQ:NTES) Receives $123.00 Consensus Target Price from Brokerages

NetEase, Inc. (NASDAQ:NTES) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $123.00.

A number of research firms have issued reports on NTES. Benchmark increased their price target on NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 24th. HSBC decreased their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Barclays started coverage on NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 target price on the stock. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $100.00 target price on shares of NetEase in a research report on Thursday.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of NetEase by 226.4% during the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after acquiring an additional 1,315,410 shares during the last quarter. Tairen Capital Ltd purchased a new position in NetEase during the 4th quarter worth $164,307,000. Capital International Investors increased its stake in NetEase by 1.1% in the first quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock valued at $108,950,000 after purchasing an additional 11,729 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of NetEase in the first quarter valued at about $103,658,000. Finally, WT Asset Management Ltd boosted its stake in shares of NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock worth $92,851,000 after buying an additional 789,499 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

NASDAQ NTES opened at $95.58 on Wednesday. The company has a market cap of $61.38 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.88 and a beta of 0.52. The stock has a 50-day moving average of $94.92 and a two-hundred day moving average of $98.46. NetEase has a 1-year low of $81.30 and a 1-year high of $118.89.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. On average, analysts anticipate that NetEase will post 6.86 EPS for the current fiscal year.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were given a $0.495 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.07%. NetEase’s dividend payout ratio (DPR) is presently 30.54%.

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.