Analysts Set NetEase, Inc. (NASDAQ:NTES) Price Target at $122.13

NetEase, Inc. (NASDAQ:NTES) has received a consensus rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $122.13.

Several brokerages recently issued reports on NTES. Bank of America upped their target price on shares of NetEase from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. StockNews.com assumed coverage on NetEase in a research report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Citigroup reduced their target price on shares of NetEase from $134.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, August 25th. JPMorgan Chase & Co. increased their target price on NetEase from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 29th. Finally, Benchmark raised their price target on shares of NetEase from $118.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 25th.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $107.85 on Friday. NetEase has a twelve month low of $54.72 and a twelve month high of $110.82. The company has a quick ratio of 2.91, a current ratio of 2.93 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $70.62 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.15 and a beta of 0.60. The stock’s 50 day moving average is $102.18 and its 200-day moving average is $98.00.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, August 24th. The technology company reported $13.88 EPS for the quarter, topping analysts’ consensus estimates of $9.14 by $4.74. NetEase had a return on equity of 22.78% and a net margin of 25.84%. The firm had revenue of $24.01 billion during the quarter, compared to analyst estimates of $24.85 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that NetEase will post 5.82 EPS for the current fiscal year.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, September 7th. This is an increase from NetEase’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.95%. NetEase’s dividend payout ratio is presently 37.52%.

Institutional Investors Weigh In On NetEase

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its stake in shares of NetEase by 186.6% in the second quarter. Global Retirement Partners LLC now owns 321 shares of the technology company’s stock worth $31,000 after purchasing an additional 209 shares during the last quarter. CWM LLC raised its holdings in NetEase by 59.9% in the 2nd quarter. CWM LLC now owns 331 shares of the technology company’s stock worth $32,000 after purchasing an additional 124 shares during the period. Pinpoint Asset Management Ltd acquired a new stake in NetEase in the 1st quarter valued at $42,000. First Capital Advisors Group LLC. purchased a new stake in NetEase in the 2nd quarter worth $47,000. Finally, Huntington National Bank raised its position in NetEase by 27.4% during the second quarter. Huntington National Bank now owns 516 shares of the technology company’s stock worth $50,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds own 11.78% 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.