Brokerages Set NetEase, Inc. (NASDAQ:NTES) Target Price at $108.43

NetEase, Inc. (NASDAQ:NTES) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $108.71.

Several equities analysts have recently weighed in on NTES shares. Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Bank of America lifted their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley upgraded NetEase from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. Benchmark reduced their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

Institutional Investors Weigh In On NetEase

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NetEase by 13,747.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after acquiring an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. increased its position in shares of NetEase by 86.8% in the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after purchasing an additional 1,203,129 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after purchasing an additional 632,896 shares in the last quarter. Temasek Holdings Private Ltd bought a new stake in NetEase during the third quarter valued at approximately $51,498,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in NetEase by 472.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock worth $39,087,000 after buying an additional 345,000 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NTES opened at $99.76 on Friday. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The business has a 50-day moving average of $90.42 and a 200 day moving average of $87.94. The firm has a market cap of $64.06 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 3.08 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.435 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.74%. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

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.