NetEase, Inc. (NASDAQ:NTES) Receives $107.29 Consensus PT from Brokerages

NetEase, Inc. (NASDAQ:NTES) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $107.29.

Several equities analysts have recently issued reports on NTES shares. Bank of America reduced their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Barclays reduced their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Citigroup upped their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group reduced their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Benchmark reduced their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th.

Institutional Investors Weigh In On NetEase

Several institutional investors have recently made changes to their positions in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 worth $585,227,000 after acquiring an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. lifted its position in shares of 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 purchased a new stake in shares of NetEase during the first quarter worth $103,658,000. Lazard Asset Management LLC lifted its position in shares of NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after acquiring an additional 704,753 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in shares of NetEase by 109.0% during the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after acquiring an additional 632,896 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Up 0.4 %

NTES stock opened at $86.56 on Friday. The firm has a market cap of $55.59 billion, a PE ratio of 14.62, a P/E/G ratio of 3.16 and a beta of 0.57. The business has a 50 day moving average of $85.30 and a 200-day moving average of $88.33. NetEase has a 12-month low of $75.85 and a 12-month high of $115.00.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.435 per share. The ex-dividend date is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 2.01%. NetEase’s dividend payout ratio is currently 29.22%.

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.