Benchmark Forecasts Strong Price Appreciation for NetEase (NASDAQ:NTES) Stock

NetEase (NASDAQ:NTES) had its price objective increased by stock analysts at Benchmark from $105.00 to $115.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s target price indicates a potential upside of 11.41% from the stock’s current price.

NTES has been the topic of several other reports. Bank of America increased their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Morgan Stanley raised their price objective on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.43.

NetEase Trading Up 1.8 %

Shares of NTES opened at $103.22 on Friday. The firm has a market capitalization of $66.28 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 3.37 and a beta of 0.58. The stock’s fifty day simple moving average is $97.77 and its 200 day simple moving average is $89.77. NetEase has a twelve month low of $75.85 and a twelve month high of $114.50.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Sell-side analysts predict that NetEase will post 6.91 earnings per share for the current year.

Institutional Trading of NetEase

A number of hedge funds and other institutional investors have recently modified their holdings of NTES. Farther Finance Advisors LLC increased its position in shares of NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after acquiring an additional 152 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of NetEase during the fourth quarter worth about $34,000. UMB Bank n.a. increased its position in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after acquiring an additional 111 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of NetEase during the third quarter worth about $45,000. Finally, Live Oak Investment Partners purchased a new stake in shares of NetEase during the fourth quarter worth about $62,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Company Profile

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.