NetEase, Inc. (NASDAQ:NTES) Receives $119.38 Consensus Price Target from Brokerages

NetEase, Inc. (NASDAQ:NTES) has earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $119.38.

NTES has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on NetEase from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Barclays boosted their price objective on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Benchmark increased their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research report on Monday, May 12th. They set a “buy” rating and a $130.00 price target for the company.

NetEase Price Performance

NASDAQ:NTES opened at $129.61 on Wednesday. NetEase has a 1 year low of $75.85 and a 1 year high of $133.80. The stock’s fifty day moving average price is $113.83 and its two-hundred day moving average price is $103.70. The company has a market cap of $82.12 billion, a P/E ratio of 18.65, a P/E/G ratio of 4.57 and a beta of 0.67.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.08%. NetEase’s dividend payout ratio is presently 38.71%.

Institutional Trading of NetEase

Several institutional investors and hedge funds have recently made changes to their positions in NTES. Mirae Asset Global Investments Co. Ltd. grew its position in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock worth $289,928,000 after acquiring an additional 2,780,897 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of NetEase by 88.0% in the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company’s stock worth $211,023,000 after purchasing an additional 1,107,363 shares in the last quarter. Capital World Investors boosted its holdings in shares of NetEase by 40.6% in the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock worth $332,311,000 after purchasing an additional 1,074,818 shares in the last quarter. Wellington Management Group LLP increased its position in shares of NetEase by 111.7% during the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock valued at $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. Finally, FIL Ltd raised its holdings in shares of NetEase by 160.2% during the 4th quarter. FIL Ltd now owns 1,668,359 shares of the technology company’s stock valued at $148,834,000 after buying an additional 1,027,102 shares in 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.