NetEase (NASDAQ:NTES) had its price objective boosted by analysts at Benchmark to $355.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s target price would indicate a potential upside of 16.21% from the company’s current price.
A number of other analysts also recently issued reports on NTES. ValuEngine downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Vetr raised NetEase from a “hold” rating to a “buy” rating and set a $359.78 price objective for the company in a research report on Tuesday, November 21st. Barclays raised their price objective on NetEase from $260.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. Jefferies Group reaffirmed a “hold” rating and issued a $302.00 target price on shares of NetEase in a research report on Friday, November 17th. Finally, CLSA downgraded NetEase from an “underperform” rating to a “sell” rating and set a $283.00 target price for the company. in a research report on Thursday, November 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NetEase currently has an average rating of “Hold” and an average price target of $349.14.
Shares of NetEase (NTES) opened at $305.48 on Tuesday. The stock has a market capitalization of $41,270.00, a PE ratio of 19.91, a P/E/G ratio of 1.62 and a beta of 0.75. NetEase has a 52-week low of $252.54 and a 52-week high of $377.64.
NetEase declared that its board has authorized a stock repurchase plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of NetEase by 117.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after buying an additional 267 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of NetEase by 22.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after buying an additional 98 shares during the period. Cibc Bank USA purchased a new position in shares of NetEase in the 4th quarter valued at about $204,000. Hikari Power Ltd purchased a new position in shares of NetEase in the 4th quarter valued at about $242,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of NetEase in the 2nd quarter valued at about $218,000. 48.89% of the stock is owned by institutional investors.
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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.
