NetEase (NASDAQ:NTES) Price Target Cut to $126.00

NetEase (NASDAQ:NTES) had its target price reduced by equities researchers at HSBC from $130.00 to $126.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. HSBC’s price target points to a potential upside of 33.87% from the stock’s previous close.

NTES has been the subject of several other reports. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Morgan Stanley lowered their target price on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NetEase currently has a consensus rating of “Buy” and a consensus price target of $126.00.

NetEase Price Performance

NTES stock opened at $94.12 on Wednesday. The business has a fifty day moving average price of $102.51 and a 200 day moving average price of $103.03. The stock has a market capitalization of $60.68 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.85 and a beta of 0.58. NetEase has a fifty-two week low of $80.79 and a fifty-two week high of $118.89.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. On average, equities analysts expect that NetEase will post 7.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NetEase

Institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA grew its stake in NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after acquiring an additional 222 shares during the period. Chilton Capital Management LLC acquired a new position in NetEase in the fourth quarter valued at about $37,000. USA Financial Formulas grew its stake in NetEase by 1,153.1% in the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after acquiring an additional 369 shares during the period. Headlands Technologies LLC acquired a new position in NetEase in the third quarter valued at about $56,000. Finally, Huntington National Bank grew its stake in NetEase by 31.4% in the third quarter. Huntington National Bank now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 162 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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.