NetEase, Inc. (NASDAQ:NTES) Receives $119.38 Average Price Target from Analysts

NetEase, Inc. (NASDAQ:NTES) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $119.38.

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They issued a “buy” rating and a $130.00 price target for the company. Benchmark upped their price target on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Barclays upped their price target on NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. upped their price target on NetEase from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th.

NetEase Stock Performance

NetEase stock opened at $129.38 on Wednesday. The stock has a market cap of $81.97 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 3.37 and a beta of 0.67. NetEase has a one year low of $75.85 and a one year high of $133.80. The stock has a fifty day moving average of $112.32 and a 200 day moving average of $102.98.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, May 30th. NetEase’s dividend payout ratio is currently 38.71%.

Institutional Trading of NetEase

Several institutional investors have recently made changes to their positions in NTES. Strs Ohio purchased a new position in NetEase during the 1st quarter valued at approximately $63,000. Acadian Asset Management LLC grew its holdings in NetEase by 157.1% during the 1st quarter. Acadian Asset Management LLC now owns 24,292 shares of the technology company’s stock valued at $2,499,000 after buying an additional 14,842 shares in the last quarter. Bayforest Capital Ltd grew its holdings in NetEase by 94.7% during the 1st quarter. Bayforest Capital Ltd now owns 5,387 shares of the technology company’s stock valued at $554,000 after buying an additional 2,620 shares in the last quarter. Everstar Asset Management LLC lifted its stake in shares of NetEase by 135.3% in the 1st quarter. Everstar Asset Management LLC now owns 12,841 shares of the technology company’s stock valued at $1,322,000 after purchasing an additional 7,383 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its stake in shares of NetEase by 26.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 594,507 shares of the technology company’s stock valued at $61,187,000 after purchasing an additional 125,369 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

About NetEase

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.