NetEase (NASDAQ:NTES) Shares Gap Up to $80.49

NetEase, Inc. (NASDAQ:NTES) gapped up before the market opened on Tuesday . The stock had previously closed at $80.49, but opened at $85.94. NetEase shares last traded at $85.28, with a volume of 448,780 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Bank of America lowered their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Barclays cut their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Jefferies Financial Group reduced their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley reissued an “equal weight” rating and set a $100.00 price target on shares of NetEase in a report on Friday, July 5th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.67.

NetEase Stock Performance

The firm has a market cap of $55.02 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.72 and a beta of 0.54. The business has a fifty day simple moving average of $85.63 and a 200-day simple moving average of $92.83.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The company had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s payout ratio is currently 26.82%.

Institutional Trading of NetEase

Several institutional investors have recently modified their holdings of the business. Mather Group LLC. increased its position in NetEase by 1,415.0% during the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares during the period. SYSTM Wealth Solutions LLC boosted its stake in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP bought a new stake in shares of NetEase in the 2nd quarter valued at $35,000. UMB Bank n.a. acquired a new stake in shares of NetEase during the first quarter worth $50,000. Finally, ORG Partners LLC bought a new position in NetEase during the first quarter worth $50,000. 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.