Jefferies Group Upgrades NetEase Inc. (NTES) to Buy
NetEase Inc. (NASDAQ:NTES) was upgraded by analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $261.00 target price on the stock. Jefferies Group’s price target would suggest a potential upside of 13.46% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued research reports about the company. Brean Capital increased their price target on NetEase from $235.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, November 10th. Vetr downgraded NetEase from a “buy” rating to a “hold” rating and set a $212.23 price target on the stock. in a research report on Monday, August 15th. Morgan Stanley increased their price target on NetEase from $195.00 to $233.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Zacks Investment Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Finally, Macquarie increased their price target on NetEase from $256.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $257.61.
NetEase (NASDAQ:NTES) opened at 230.04 on Monday. The stock has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00. NetEase has a 52-week low of $129.60 and a 52-week high of $272.58.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 25th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, November 22nd. NetEase’s payout ratio is currently 25.15%.
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Large investors have recently modified their holdings of the stock. Coronation Fund Managers Ltd. acquired a new stake in NetEase during the second quarter worth approximately $137,565,000. State Street Corp boosted its stake in NetEase by 59.4% in the second quarter. State Street Corp now owns 1,416,543 shares of the company’s stock worth $273,701,000 after buying an additional 527,760 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in NetEase by 39.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,837,876 shares of the company’s stock worth $355,114,000 after buying an additional 516,959 shares during the period. BlackRock Fund Advisors boosted its stake in NetEase by 75.8% in the second quarter. BlackRock Fund Advisors now owns 1,042,761 shares of the company’s stock worth $201,482,000 after buying an additional 449,610 shares during the period. Finally, BlackRock Group LTD boosted its stake in NetEase by 67.4% in the second quarter. BlackRock Group LTD now owns 999,199 shares of the company’s stock worth $193,066,000 after buying an additional 402,171 shares during the period. 55.88% of the stock is currently owned by institutional investors.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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