Barclays Boosts NetEase (NASDAQ:NTES) Price Target to $104.00

NetEase (NASDAQ:NTES) had its target price hoisted by equities research analysts at Barclays from $82.00 to $104.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 4.41% from the company’s previous close.

A number of other brokerages also recently weighed in on NTES. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup raised their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Benchmark lifted their price target on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley raised their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.57.

NetEase Stock Up 0.7 %

Shares of NTES opened at $99.61 on Monday. The company’s fifty day moving average is $98.00 and its 200-day moving average is $89.91. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50. The firm has a market cap of $63.97 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.37 and a beta of 0.58.

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

Institutional Investors Weigh In On NetEase

Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank bought a new stake in NetEase in the fourth quarter valued at approximately $145,000. GF Fund Management CO. LTD. acquired a new position in NetEase during the fourth quarter worth $1,362,000. Public Employees Retirement System of Ohio boosted its holdings in NetEase by 3.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 128,316 shares of the technology company’s stock worth $11,447,000 after purchasing an additional 3,883 shares during the last quarter. GTS Securities LLC acquired a new position in NetEase during the fourth quarter worth $210,000. Finally, Vise Technologies Inc. acquired a new stake in NetEase in the fourth quarter valued at $412,000. Institutional investors own 11.07% of the company’s stock.

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.