NetEase (NASDAQ:NTES) Price Target Raised to $115.00

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

NTES has been the subject of a number of other reports. Barclays dropped their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Bank of America decreased their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Finally, Jefferies Financial Group dropped 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Price Performance

NASDAQ NTES opened at $85.49 on Friday. The stock’s 50 day simple moving average is $83.75 and its 200 day simple moving average is $88.95. NetEase has a one year low of $75.85 and a one year high of $118.89. The firm has a market cap of $54.90 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.89 and a beta of 0.57.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 21.14% and a net margin of 26.02%. The company had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts expect that NetEase will post 6.08 earnings per share for the current year.

NetEase Announces Dividend

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 paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 29th. NetEase’s payout ratio is 29.22%.

Institutional Trading of NetEase

Institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. grew its holdings in NetEase by 1,415.0% during the second 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 grew its holdings 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 buying an additional 117 shares during the period. Ariadne Wealth Management LP bought a new stake in shares of NetEase in the 2nd quarter valued at $35,000. Highline Wealth Partners LLC acquired a new stake in NetEase during the 3rd quarter worth $45,000. Finally, RPg Family Wealth Advisory LLC bought a new position in NetEase during the third quarter worth about $70,000. 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.