NetEase (NASDAQ:NTES)‘s stock had its “buy” rating restated by stock analysts at Goldman Sachs Group in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a $432.00 price objective on the technology company’s stock, up from their prior price objective of $2.21. Goldman Sachs Group’s target price indicates a potential upside of 34.08% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other brokerages also recently weighed in on NTES. Vetr downgraded shares of NetEase from a “buy” rating to a “hold” rating and set a $323.68 target price for the company. in a research note on Monday, November 20th. Nomura raised shares of NetEase from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $297.00 to $428.00 in a research note on Friday, November 17th. Deutsche Bank set a $380.00 target price on shares of NetEase and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays set a $315.00 target price on shares of NetEase and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research downgraded shares of NetEase from a “hold” rating to a “sell” rating in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $348.96.

NetEase (NASDAQ:NTES) traded down $2.21 during trading hours on Thursday, reaching $322.19. 1,306,779 shares of the company’s stock were exchanged, compared to its average volume of 1,360,000. The firm has a market capitalization of $42,560.00, a price-to-earnings ratio of 20.98, a PEG ratio of 1.54 and a beta of 0.94. NetEase has a 52-week low of $233.50 and a 52-week high of $377.64.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, November 15th. The technology company reported $2.86 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.20. NetEase had a net margin of 25.34% and a return on equity of 31.84%. equities research analysts anticipate that NetEase will post 12.85 earnings per share for the current year.

NetEase announced that its board has authorized a share buyback program on Wednesday, November 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of NTES. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of NetEase during the third quarter worth approximately $2,092,000. FMR LLC raised its stake in shares of NetEase by 63.3% during the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after buying an additional 841,692 shares during the last quarter. Capital International Investors bought a new stake in shares of NetEase during the third quarter worth approximately $180,472,000. Renaissance Technologies LLC raised its stake in shares of NetEase by 20.1% during the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after buying an additional 456,300 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its stake in shares of NetEase by 17.9% during the second quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock worth $739,364,000 after buying an additional 372,510 shares during the last quarter. 50.34% of the stock is owned by institutional investors and hedge funds.

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NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

The Fly

Analyst Recommendations for NetEase (NASDAQ:NTES)

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