NetEase (NASDAQ:NTES) Given New $118.00 Price Target at Barclays

NetEase (NASDAQ:NTES) had its price target lifted by Barclays from $104.00 to $118.00 in a report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised their price objective on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Benchmark raised their price objective on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They set a “buy” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.14.

NetEase Price Performance

Shares of NTES stock opened at $119.58 on Friday. NetEase has a 1-year low of $75.85 and a 1-year high of $123.56. The stock’s 50-day moving average is $102.66 and its 200 day moving average is $97.32. The company has a market cap of $75.76 billion, a P/E ratio of 18.77, a PEG ratio of 3.37 and a beta of 0.66.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. On average, analysts anticipate that NetEase will post 6.91 EPS for the current year.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase’s dividend payout ratio (DPR) is presently 38.85%.

Institutional Investors Weigh In On NetEase

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Everstar Asset Management LLC raised its stake in shares of NetEase by 135.3% in the first quarter. Everstar Asset Management LLC now owns 12,841 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 7,383 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of NetEase by 26.7% in the first quarter. Temasek Holdings Private Ltd now owns 594,507 shares of the technology company’s stock worth $61,187,000 after purchasing an additional 125,369 shares during the last quarter. Royal Capital Wealth Management LLC purchased a new position in shares of NetEase in the first quarter worth about $206,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of NetEase by 5.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 41,100 shares of the technology company’s stock worth $4,230,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of NetEase by 2.1% in the first quarter. Advisors Asset Management Inc. now owns 17,104 shares of the technology company’s stock worth $1,760,000 after purchasing an additional 347 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.