NetEase (NASDAQ:NTES) Price Target Raised to $115.00 at Benchmark

NetEase (NASDAQ:NTES) had its target price raised by Benchmark from $105.00 to $115.00 in a research report sent to investors on Friday,Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. Bank of America upped their price objective on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Morgan Stanley upped their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Citigroup lifted their price target 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average price target of $111.43.

NetEase Stock Performance

NASDAQ NTES opened at $103.22 on Friday. The firm has a market capitalization of $66.28 billion, a P/E ratio of 16.20, a PEG ratio of 3.37 and a beta of 0.58. The stock has a 50-day simple moving average of $97.77 and a two-hundred day simple moving average of $89.78. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

NetEase (NASDAQ:NTES) last released its quarterly earnings data 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 return on equity of 22.12% and a net margin of 28.17%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. As a group, analysts forecast that NetEase will post 6.91 earnings per share for the current year.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Thursday, March 6th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, March 6th. NetEase’s payout ratio is currently 76.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 during the period. Capital World Investors lifted its position in NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock valued at $332,311,000 after buying an additional 1,074,818 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of NetEase by 10.8% during the fourth 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 last quarter. 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. Finally, Dodge & Cox lifted its holdings in shares of NetEase by 0.6% in the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company’s stock worth $236,395,000 after acquiring an additional 15,900 shares during the last quarter. 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.