NetEase (NTES) Price Target Raised to $300.00

NetEase (NASDAQ:NTES) had its price objective hoisted by Barclays from $275.00 to $300.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the technology company’s stock. The analysts noted that the move was a valuation call.

NTES has been the subject of several other research reports. Zacks Investment Research upgraded shares of NetEase from a hold rating to a strong-buy rating and set a $289.00 target price for the company in a research note on Wednesday, February 6th. BidaskClub upgraded shares of NetEase from a hold rating to a buy rating in a research note on Thursday, March 14th. TH Capital lifted their target price on shares of NetEase from $270.00 to $310.00 and gave the stock a buy rating in a research note on Monday. Jefferies Financial Group downgraded shares of NetEase from a buy rating to a hold rating and set a $245.00 target price for the company. in a research note on Thursday, February 21st. Finally, ValuEngine downgraded shares of NetEase from a buy rating to a hold rating in a research note on Monday, February 4th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $277.45.

NASDAQ NTES opened at $261.49 on Tuesday. NetEase has a 52-week low of $184.60 and a 52-week high of $289.68. The stock has a market cap of $33.43 billion, a P/E ratio of 38.06, a P/E/G ratio of 24.89 and a beta of 0.81.

NetEase (NASDAQ:NTES) last posted its earnings results on Wednesday, February 20th. The technology company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.41. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.91 billion. NetEase had a net margin of 9.12% and a return on equity of 13.60%. During the same quarter last year, the company earned $2.18 earnings per share. As a group, analysts forecast that NetEase will post 7.31 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in NetEase by 737.3% during the first quarter. Wellington Management Group LLP now owns 158,385 shares of the technology company’s stock valued at $38,243,000 after acquiring an additional 139,468 shares in the last quarter. Cresset Asset Management LLC purchased a new position in NetEase during the first quarter valued at approximately $213,000. Fullerton Fund Management Co Ltd. grew its stake in NetEase by 728.3% during the first quarter. Fullerton Fund Management Co Ltd. now owns 121,897 shares of the technology company’s stock valued at $29,432,000 after acquiring an additional 107,181 shares in the last quarter. Bridgewater Associates LP grew its stake in NetEase by 1.4% during the first quarter. Bridgewater Associates LP now owns 15,611 shares of the technology company’s stock valued at $3,769,000 after acquiring an additional 222 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in NetEase by 151.2% during the first quarter. Marshall Wace LLP now owns 638 shares of the technology company’s stock valued at $154,000 after acquiring an additional 384 shares in the last quarter. 44.96% of the stock is owned by institutional investors.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Analyst Recommendations for NetEase (NASDAQ:NTES)

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