Shares of NetEase Inc (NASDAQ:NTES) have been given a consensus rating of “Hold” by the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $349.19.
Several equities research analysts have recently issued reports on NTES shares. UBS Group cut shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Nomura raised shares of NetEase from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $297.00 to $428.00 in a research report on Friday, November 17th. Zacks Investment Research upgraded shares of NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Vetr lowered shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $363.82 price target on the stock. in a research note on Monday, December 11th. Finally, Deutsche Bank set a $325.00 price target on shares of NetEase and gave the stock a “buy” rating in a research note on Friday, October 6th.
A number of hedge funds and other institutional investors have recently bought and sold shares of NTES. ProShare Advisors LLC increased its stake in shares of NetEase by 26.1% during the second quarter. ProShare Advisors LLC now owns 21,779 shares of the technology company’s stock worth $6,547,000 after acquiring an additional 4,513 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after acquiring an additional 98 shares during the period. New York State Common Retirement Fund increased its stake in shares of NetEase by 21.1% during the second quarter. New York State Common Retirement Fund now owns 89,487 shares of the technology company’s stock worth $26,902,000 after acquiring an additional 15,599 shares during the period. Rafferty Asset Management LLC increased its stake in shares of NetEase by 22.1% during the second quarter. Rafferty Asset Management LLC now owns 4,816 shares of the technology company’s stock worth $1,448,000 after acquiring an additional 872 shares during the period. Finally, Nicholas Investment Partners LP acquired a new position in shares of NetEase during the second quarter worth about $1,116,000. Institutional investors own 50.34% of the company’s stock.
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, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.20. NetEase had a net margin of 25.34% and a return on equity of 31.84%. analysts anticipate that NetEase will post 12.85 earnings per share for the current year.
NetEase declared that its board has approved a share repurchase plan on Wednesday, November 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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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.
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