NetEase (NASDAQ:NTES) Shares Gap Up – Still a Buy?

NetEase, Inc. (NASDAQ:NTES)’s share price gapped up prior to trading on Monday . The stock had previously closed at $91.11, but opened at $94.69. NetEase shares last traded at $94.28, with a volume of 610,074 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTES. Benchmark dropped their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Citigroup boosted their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $108.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average price target of $108.43.

NetEase Price Performance

The stock’s 50-day moving average is $89.12 and its two-hundred day moving average is $87.72. The company has a market cap of $61.67 billion, a P/E ratio of 16.22, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.81%. NetEase’s payout ratio is 29.22%.

Institutional Trading of NetEase

Several large investors have recently modified their holdings of NTES. SYSTM Wealth Solutions LLC boosted its position in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP bought a new position in shares of NetEase in the 2nd quarter worth approximately $35,000. Highline Wealth Partners LLC purchased a new position in shares of NetEase in the third quarter worth approximately $45,000. RPg Family Wealth Advisory LLC purchased a new position in shares of NetEase in the third quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in NetEase during the third quarter valued at approximately $76,000. 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.