Benchmark Increases NetEase (NASDAQ:NTES) Price Target to $145.00

NetEase (NASDAQ:NTES) had its price objective hoisted by equities researchers at Benchmark from $144.00 to $145.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective points to a potential upside of 53.05% from the company’s previous close.

NTES has been the subject of several other reports. HSBC decreased their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley restated an “equal weight” rating and issued a $100.00 price target (down from $120.00) on shares of NetEase in a research report on Thursday. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.13.

NetEase Stock Performance

Shares of NTES stock opened at $94.74 on Friday. NetEase has a one year low of $80.79 and a one year high of $118.89. The company has a 50 day moving average price of $98.80 and a 200 day moving average price of $102.05. The firm has a market capitalization of $60.84 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.80 and a beta of 0.58.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. As a group, equities analysts forecast that NetEase will post 7.06 EPS for the current fiscal year.

Hedge Funds Weigh In On NetEase

Several hedge funds have recently made changes to their positions in NTES. Signaturefd LLC grew its stake in shares of NetEase by 6.6% in the 3rd quarter. Signaturefd LLC now owns 4,889 shares of the technology company’s stock worth $490,000 after purchasing an additional 303 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of NetEase by 99.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 92,544 shares of the technology company’s stock worth $9,270,000 after buying an additional 46,168 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of NetEase by 123.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,118 shares of the technology company’s stock worth $312,000 after buying an additional 1,724 shares during the period. Financial Counselors Inc. boosted its holdings in shares of NetEase by 28.0% in the third quarter. Financial Counselors Inc. now owns 3,070 shares of the technology company’s stock worth $307,000 after buying an additional 671 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of NetEase by 221.9% in the third quarter. New York State Common Retirement Fund now owns 164,932 shares of the technology company’s stock worth $16,520,000 after buying an additional 113,702 shares during the period. Institutional investors and hedge funds 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.