Goldman Sachs Group Reaffirms “Buy” Rating for NetEase (NTES)

NetEase (NASDAQ:NTES)‘s stock had its “buy” rating reaffirmed by research analysts at Goldman Sachs Group in a report issued on Thursday. They currently have a $432.00 price target on the technology company’s stock. Goldman Sachs Group’s price objective suggests a potential upside of 34.08% from the company’s current price. The analysts noted that the move was a valuation call.

Several other research firms also recently issued reports on NTES. Deutsche Bank set a $325.00 price objective on NetEase and gave the company a “buy” rating in a research note on Friday, October 6th. Barclays initiated coverage on NetEase in a research note on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 price objective for the company. Vetr raised NetEase from a “buy” rating to a “strong-buy” rating and set a $362.28 price objective for the company in a research note on Tuesday, December 5th. Jefferies Group downgraded NetEase from a “buy” rating to a “hold” rating and lowered their price objective for the company from $330.00 to $290.00 in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. NetEase presently has a consensus rating of “Hold” and a consensus price target of $348.96.

NetEase (NTES) traded down $2.21 during trading on Thursday, hitting $322.19. The stock had a trading volume of 1,322,700 shares, compared to its average volume of 1,341,725. NetEase has a one year low of $236.08 and a one year high of $377.64. The firm has a market capitalization of $42,940.00, a P/E ratio of 20.92, a P/E/G ratio of 1.56 and a beta of 0.94.

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

NetEase declared that its board has initiated a share repurchase program on Wednesday, November 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of NTES. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of NetEase by 117.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after buying an additional 267 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of NetEase by 22.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC bought a new position in shares of NetEase during the 2nd quarter worth approximately $203,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of NetEase during the 2nd quarter worth approximately $218,000. Finally, ETF Managers Group LLC bought a new position in shares of NetEase during the 2nd quarter worth approximately $219,000. Hedge funds and other institutional investors own 50.34% of the company’s stock.

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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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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