NetEase (NASDAQ:NTES) Given New $115.00 Price Target at Benchmark

NetEase (NASDAQ:NTES - Get Free Report) had its price target hoisted by analysts at Benchmark from $105.00 to $115.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Benchmark's price objective points to a potential upside of 15.45% from the stock's previous close.

A number of other analysts have also recently commented on the stock. Bank of America boosted their target price on shares of NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Morgan Stanley upped their price objective on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Citigroup raised their target price on shares of NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, StockNews.com cut NetEase from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, NetEase has a consensus rating of "Moderate Buy" and an average price target of $114.57.

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NetEase Price Performance

NTES stock traded up $0.72 during trading on Friday, reaching $99.61. The company had a trading volume of 1,170,775 shares, compared to its average volume of 1,392,033. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50. The business has a 50 day moving average of $97.88 and a 200 day moving average of $89.85. The company has a market cap of $63.97 billion, a P/E ratio of 15.64, a PEG ratio of 3.37 and a beta of 0.58.

NetEase (NASDAQ:NTES - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $27.16 billion. Research analysts expect that NetEase will post 6.91 earnings per share for the current year.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of NetEase in the third quarter worth $76,000. Outlook Wealth Advisors LLC raised its position in NetEase by 10.3% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 4,154 shares of the technology company's stock worth $388,000 after buying an additional 388 shares during the last quarter. Arkadios Wealth Advisors bought a new position in NetEase during the 3rd quarter valued at about $297,000. Highline Wealth Partners LLC bought a new position in NetEase during the 3rd quarter valued at about $45,000. Finally, Financial Advocates Investment Management boosted its holdings in shares of NetEase by 5.4% during the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company's stock valued at $435,000 after acquiring an additional 237 shares during the last quarter. 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.