NetEase, Inc. (NASDAQ:NTES - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $76.28, but opened at $81.03. NetEase shares last traded at $81.97, with a volume of 990,176 shares traded.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on NTES shares. Barclays lowered their price objective on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, August 26th. StockNews.com lowered NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 20th. Bank of America lowered their price target on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, August 23rd. Finally, Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.67.
Check Out Our Latest Report on NetEase
NetEase Trading Up 10.4 %
The firm's fifty day simple moving average is $83.47 and its two-hundred day simple moving average is $89.12. The company has a market capitalization of $54.08 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57.
NetEase (NASDAQ:NTES - Get Free Report) last posted 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. The firm had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, analysts forecast that NetEase, Inc. will post 6.02 EPS for the current fiscal year.
NetEase Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, September 6th. NetEase's payout ratio is 28.22%.
Institutional Investors Weigh In On NetEase
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NetEase by 13,747.9% in 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. increased its stake 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 acquiring an additional 1,203,129 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of NetEase by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company's stock valued at $161,789,000 after acquiring an additional 103,102 shares during the period. Point72 Hong Kong Ltd boosted its holdings in NetEase by 109.0% in the 2nd 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 during the period. Finally, Fisher Asset Management LLC boosted its position in NetEase by 7.8% in 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 buying an additional 82,474 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.
NetEase Company Profile
(
Get Free Report)
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.
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