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

NetEase (NASDAQ:NTES) had its target price boosted by equities research analysts at Nomura from $439.00 to $464.00 in a report issued on Thursday, The Fly reports. Nomura’s price objective indicates a potential upside of 24.65% from the company’s current price.

Several other brokerages also recently weighed in on NTES. Zacks Investment Research downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Barclays boosted their price objective on shares of NetEase from $380.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Friday, May 15th. Cfra lifted their target price on shares of NetEase from $380.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Macquarie cut shares of NetEase from an “outperform” rating to a “neutral” rating in a report on Thursday, February 27th. One equities 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $399.28.

NetEase stock traded down $29.51 during trading on Thursday, reaching $372.25. The stock had a trading volume of 1,243,313 shares, compared to its average volume of 676,720. NetEase has a 52-week low of $209.01 and a 52-week high of $402.07. The business has a 50 day moving average price of $348.68 and a 200 day moving average price of $326.44. The stock has a market cap of $51.41 billion, a PE ratio of 15.31, a P/E/G ratio of 0.63 and a beta of 0.70.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc increased its stake in NetEase by 2.4% in the 1st quarter. CIBC Asset Management Inc now owns 6,372 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares during the period. Jefferies Group LLC acquired a new position in shares of NetEase during the 4th quarter worth $446,000. Macquarie Group Ltd. grew its stake in shares of NetEase by 26.7% during the 4th quarter. Macquarie Group Ltd. now owns 17,394 shares of the technology company’s stock worth $5,334,000 after purchasing an additional 3,663 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of NetEase by 17.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 18,457 shares of the technology company’s stock worth $5,691,000 after purchasing an additional 2,806 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of NetEase during the 4th quarter worth $3,273,000. 47.83% of the stock is currently owned by institutional investors.

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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