JPMorgan Chase & Co. Issues Positive Forecast for NetEase (NASDAQ:NTES) Stock Price

NetEase (NASDAQ:NTES) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $120.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.58% from the stock’s previous close.

Several other analysts have also commented on the stock. Benchmark increased their price target on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Morgan Stanley upped their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays upped their price objective on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday, May 12th. They set a “buy” rating and a $130.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.38.

NetEase Price Performance

NTES stock opened at $120.99 on Monday. The company’s 50 day simple moving average is $103.29 and its 200-day simple moving average is $97.77. The firm has a market capitalization of $76.66 billion, a PE ratio of 18.99, a P/E/G ratio of 3.37 and a beta of 0.66. NetEase has a 12 month low of $75.85 and a 12 month high of $123.56.

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

Hedge Funds Weigh In On NetEase

A number of large investors have recently bought and sold shares of the stock. Capital World Investors raised its stake in NetEase by 40.6% during the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its stake in shares of NetEase by 10.8% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock valued at $324,088,000 after acquiring an additional 354,273 shares during the period. Lazard Asset Management LLC raised its stake in shares of NetEase by 2.0% in the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company’s stock valued at $321,137,000 after acquiring an additional 69,789 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NetEase by 7,698.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock valued at $289,928,000 after acquiring an additional 2,780,897 shares during the period. Finally, Dodge & Cox raised its stake in shares of NetEase by 5.8% in the 1st quarter. Dodge & Cox now owns 2,803,664 shares of the technology company’s stock valued at $288,553,000 after acquiring an additional 153,788 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.