Benchmark Issues Pessimistic Forecast for NetEase (NASDAQ:NTES) Stock Price

NetEase (NASDAQ:NTES) had its target price cut by Benchmark from $120.00 to $105.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on NTES. Jefferies Financial Group decreased their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Bank of America reduced their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, Barclays lowered their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.29.

NetEase Stock Performance

Shares of NTES stock opened at $88.26 on Friday. NetEase has a 1 year low of $75.85 and a 1 year high of $118.89. The firm has a market cap of $56.68 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.89 and a beta of 0.57. The stock’s 50-day moving average is $83.96 and its two-hundred day moving average is $88.87.

NetEase (NASDAQ:NTES) last released its quarterly 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. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 21.14% and a net margin of 26.02%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. As a group, research analysts predict that NetEase will post 6.08 EPS for the current year.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.97%. NetEase’s dividend payout ratio is currently 29.22%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 in the last quarter. Hhlr Advisors LTD. boosted its holdings 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 buying an additional 1,203,129 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after buying an additional 103,102 shares during the period. Point72 Hong Kong Ltd increased its holdings in NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after buying an additional 632,896 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of NetEase by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after acquiring an additional 82,474 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.