A number of other analysts also recently weighed in on the stock. ValuEngine downgraded shares of NetEase from a “sell” rating to a “strong sell” rating in a research report on Friday, October 2nd. The Goldman Sachs Group increased their target price on shares of NetEase from $104.00 to $107.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Citigroup reduced their price objective on shares of NetEase from $112.60 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Zacks Investment Research raised shares of NetEase from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Industrial Alliance Securities initiated coverage on NetEase in a report on Thursday, December 31st. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. NetEase currently has a consensus rating of “Buy” and a consensus target price of $98.78.
Shares of NASDAQ NTES opened at $114.57 on Thursday. The business’s fifty day simple moving average is $92.65 and its 200-day simple moving average is $91.94. The stock has a market cap of $73.30 billion, a P/E ratio of 37.49, a PEG ratio of 12.58 and a beta of 0.59. NetEase has a 12-month low of $53.17 and a 12-month high of $114.80.
NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, November 18th. The technology company reported $5.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $5.09. NetEase had a net margin of 20.47% and a return on equity of 20.24%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.64 billion. As a group, sell-side analysts expect that NetEase will post 2.91 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in shares of NetEase by 5.0% in the second quarter. Commonwealth Equity Services LLC now owns 1,005 shares of the technology company’s stock worth $431,000 after acquiring an additional 48 shares during the last quarter. Balentine LLC bought a new position in shares of NetEase during the second quarter valued at $30,000. American International Group Inc. lifted its holdings in shares of NetEase by 1.7% during the second quarter. American International Group Inc. now owns 5,335 shares of the technology company’s stock valued at $2,291,000 after purchasing an additional 90 shares in the last quarter. Smithfield Trust Co. lifted its holdings in shares of NetEase by 82.6% during the second quarter. Smithfield Trust Co. now owns 210 shares of the technology company’s stock valued at $90,000 after purchasing an additional 95 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of NetEase by 13.3% during the second quarter. Toronto Dominion Bank now owns 978 shares of the technology company’s stock valued at $421,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 8.52% of the company’s stock.
NetEase Company Profile
NetEase, Inc, an Internet technology company, provides online services focusing on content, community, communication, and commerce in the Peoples’ Republic of China and internationally. The company operates in three segments: Online Games Services, Youdao, and Innovative Businesses and Others. It develops and operates PC-client and mobile games, as well as offers games licensed from other game developers.
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