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

Shares of NetEase, Inc. (NASDAQ:NTES) have received an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $108.43.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NetEase by 13,747.9% in the third 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 purchasing an additional 6,213,248 shares during the period. Hhlr Advisors LTD. raised its stake in NetEase by 86.8% in the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after buying an additional 1,203,129 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in NetEase by 6.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of NetEase by 109.0% during 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 buying an additional 632,896 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of NetEase by 7.8% in the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after purchasing an additional 82,474 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NTES opened at $96.03 on Friday. The firm has a market cap of $61.67 billion, a PE ratio of 16.22, a PEG ratio of 3.53 and a beta of 0.57. NetEase has a 1 year low of $75.85 and a 1 year high of $114.50. The stock’s fifty day moving average price is $89.12 and its two-hundred day moving average price is $87.72.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, November 29th. 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.