NetEase (NASDAQ:NTES) Given New $104.00 Price Target at Barclays

NetEase (NASDAQ:NTES) had its price objective lifted by Barclays from $82.00 to $104.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other analysts have also issued reports on the stock. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup boosted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America boosted their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Benchmark boosted their price target on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.57.

NetEase Stock Performance

Shares of NTES stock opened at $98.89 on Monday. The firm has a market cap of $63.50 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 3.37 and a beta of 0.58. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50. The firm’s 50-day simple moving average is $97.88 and its two-hundred day simple moving average is $89.85.

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

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Thursday, March 6th will be paid a dividend of $0.435 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.74 annualized dividend and a yield of 1.76%. NetEase’s dividend payout ratio is currently 76.61%.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after buying an additional 152 shares in the last quarter. Brooklyn Investment Group purchased a new position in NetEase in the 4th quarter worth approximately $34,000. UMB Bank n.a. grew its stake in NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in NetEase in the 3rd quarter worth approximately $45,000. Finally, Live Oak Investment Partners purchased a new stake in shares of NetEase in the 4th quarter valued at $62,000. 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.