NetEase (NASDAQ:NTES) Price Target Raised to $115.00 at Benchmark

NetEase (NASDAQ:NTES) had its target price upped by equities researchers at Benchmark from $105.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s price target indicates a potential upside of 10.90% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Bank of America upped their price objective on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Citigroup raised their price objective 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. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Morgan Stanley increased their price target on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

NetEase Trading Up 2.2 %

Shares of NetEase stock traded up $2.27 during trading on Friday, reaching $103.69. The company’s stock had a trading volume of 475,068 shares, compared to its average volume of 1,334,953. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The firm has a market cap of $66.59 billion, a PE ratio of 17.51, a P/E/G ratio of 3.46 and a beta of 0.58. The company has a 50-day moving average price of $97.61 and a two-hundred day moving average price of $89.64.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a return on equity of 20.82% and a net margin of 26.02%. On average, analysts predict that NetEase will post 6.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NetEase

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of NetEase in the third quarter valued at $76,000. Outlook Wealth Advisors LLC boosted its stake in NetEase by 10.3% in the third quarter. Outlook Wealth Advisors LLC now owns 4,154 shares of the technology company’s stock valued at $388,000 after acquiring an additional 388 shares during the period. Arkadios Wealth Advisors acquired a new position in NetEase during the 3rd quarter valued at approximately $297,000. Highline Wealth Partners LLC acquired a new position in shares of NetEase during the third quarter valued at $45,000. Finally, Financial Advocates Investment Management boosted its stake in NetEase by 5.4% during the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock valued at $435,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.