NetEase (NASDAQ:NTES) PT Raised to $464.00 at Nomura Instinet

NetEase (NASDAQ:NTES) had its target price upped by research analysts at Nomura Instinet from $439.00 to $464.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the technology company’s stock. Nomura Instinet’s price target indicates a potential upside of 24.65% from the company’s previous close.

A number of other research analysts also recently issued reports on NTES. Macquarie downgraded shares of NetEase from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 27th. Cfra boosted their target price on shares of NetEase from $380.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Friday, May 15th. ValuEngine downgraded shares of NetEase from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Finally, Benchmark boosted their target price on shares of NetEase from $380.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $399.28.

Shares of NTES traded down $29.51 during trading hours on Thursday, reaching $372.25. 1,243,313 shares of the company traded hands, compared to its average volume of 676,720. The stock has a market capitalization of $51.41 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.63 and a beta of 0.70. NetEase has a 12-month low of $209.01 and a 12-month high of $402.07. The business has a fifty day moving average price of $348.68 and a 200-day moving average price of $326.44.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Tuesday, May 19th. The technology company reported $32.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $28.66. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.31 billion. NetEase had a net margin of 33.53% and a return on equity of 37.56%. On average, analysts anticipate that NetEase will post 14.97 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of NTES. Norges Bank acquired a new position in shares of NetEase in the fourth quarter worth about $287,570,000. Investec Asset Management LTD raised its position in shares of NetEase by 114.3% during the 4th quarter. Investec Asset Management LTD now owns 1,684,206 shares of the technology company’s stock worth $516,445,000 after purchasing an additional 898,188 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of NetEase by 163.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,124,717 shares of the technology company’s stock worth $344,883,000 after purchasing an additional 698,417 shares during the last quarter. Mondrian Investment Partners LTD raised its position in shares of NetEase by 147.7% during the 4th quarter. Mondrian Investment Partners LTD now owns 917,115 shares of the technology company’s stock worth $281,224,000 after purchasing an additional 546,851 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of NetEase by 24.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,596,422 shares of the technology company’s stock worth $833,345,000 after purchasing an additional 513,383 shares during the last quarter. Institutional investors and hedge funds 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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Analyst Recommendations for NetEase (NASDAQ:NTES)

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