Benchmark Boosts NetEase (NASDAQ:NTES) Price Target to $435.00

NetEase (NASDAQ:NTES) had its price objective raised by Benchmark from $380.00 to $435.00 in a report published on Wednesday morning, The Fly reports. Benchmark currently has a buy rating on the technology company’s stock.

NTES has been the subject of a number of other research reports. Macquarie downgraded NetEase from an outperform rating to a neutral rating in a report on Thursday, February 27th. ValuEngine downgraded NetEase from a hold rating to a sell rating in a report on Friday, May 1st. Barclays lifted their target price on NetEase from $380.00 to $390.00 and gave the stock an overweight rating in a report on Thursday, May 7th. Bank of America lifted their target price on NetEase from $366.00 to $415.00 and gave the stock a buy rating in a report on Thursday, February 27th. Finally, Zacks Investment Research downgraded NetEase from a buy rating to a hold rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. NetEase presently has an average rating of Buy and an average target price of $399.28.

NetEase stock traded down $29.51 during mid-day trading on Wednesday, hitting $372.25. 1,243,313 shares of the company’s stock traded hands, compared to its average volume of 676,720. The firm has a 50 day simple moving average of $348.68 and a two-hundred day simple moving average of $326.44. NetEase has a fifty-two week low of $209.01 and a fifty-two week high of $402.07. The stock has a market cap of $51.41 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.63 and a beta of 0.70.

NetEase (NASDAQ:NTES) last posted its earnings results on Tuesday, May 19th. The technology company reported $32.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.51 by $28.66. NetEase had a return on equity of 37.56% and a net margin of 33.53%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.31 billion. Equities research analysts forecast that NetEase will post 14.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 12th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, June 11th. This is an increase from NetEase’s previous quarterly dividend of $1.02. NetEase’s payout ratio is 27.74%.

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in NetEase by 20.7% in the first quarter. Invesco Ltd. now owns 2,878,278 shares of the technology company’s stock valued at $923,811,000 after acquiring an additional 494,506 shares during the last quarter. JPMorgan Chase & Co. grew its position in NetEase by 24.6% in the first quarter. JPMorgan Chase & Co. now owns 2,596,422 shares of the technology company’s stock valued at $833,345,000 after acquiring an additional 513,383 shares during the last quarter. Baillie Gifford & Co. grew its position in NetEase by 4.8% in the fourth quarter. Baillie Gifford & Co. now owns 2,166,672 shares of the technology company’s stock valued at $664,389,000 after acquiring an additional 98,575 shares during the last quarter. Comgest Global Investors S.A.S. grew its position in NetEase by 0.5% in the fourth quarter. Comgest Global Investors S.A.S. now owns 2,029,447 shares of the technology company’s stock valued at $622,309,000 after acquiring an additional 10,204 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in NetEase by 11.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,021,503 shares of the technology company’s stock valued at $619,874,000 after acquiring an additional 208,471 shares during the last quarter. Hedge funds and other institutional investors own 47.83% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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