Vetr Inc. Downgrades NetEase, Inc. (NTES) to Buy
Vetr downgraded shares of NetEase, Inc. (NASDAQ:NTES) from a strong-buy rating to a buy rating in a report released on Monday, May 22nd. Vetr currently has $318.49 price objective on the technology company’s stock.
A number of other research analysts have also recently issued reports on NTES. Jefferies Group LLC lifted their price objective on NetEase from $261.00 to $300.00 and gave the company a buy rating in a report on Thursday, February 16th. Deutsche Bank AG set a $298.00 price objective on NetEase and gave the company a buy rating in a report on Thursday, February 16th. Zacks Investment Research raised NetEase from a sell rating to a hold rating in a report on Tuesday, January 31st. Mizuho raised NetEase from an underperform rating to a neutral rating in a report on Thursday, February 16th. Finally, Standpoint Research restated a buy rating and issued a $340.00 target price (up from $295.00) on shares of NetEase in a research note on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $295.84.
NetEase (NTES) traded up 1.47% on Monday, hitting $296.97. 1,023,500 shares of the company were exchanged. The stock has a market cap of $39.06 billion, a PE ratio of 20.61 and a beta of 0.85. The firm has a 50 day moving average of $286.52 and a 200-day moving average of $265.74. NetEase has a 52-week low of $163.63 and a 52-week high of $323.10.
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The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 26th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, May 24th. NetEase’s dividend payout ratio (DPR) is 25.09%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in NetEase by 1,571.4% in the first quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock valued at $1,431,127,000 after buying an additional 4,737,686 shares during the period. Credit Agricole S A raised its position in NetEase by 19.2% in the first quarter. Credit Agricole S A now owns 4,395,661 shares of the technology company’s stock worth $1,248,368,000 after buying an additional 709,148 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of NetEase by 12.7% in the first quarter. Renaissance Technologies LLC now owns 2,269,700 shares of the technology company’s stock worth $644,595,000 after buying an additional 255,800 shares in the last quarter. State Street Corp raised its position in shares of NetEase by 8.8% in the first quarter. State Street Corp now owns 1,712,268 shares of the technology company’s stock worth $486,279,000 after buying an additional 137,801 shares in the last quarter. Finally, FMR LLC raised its position in shares of NetEase by 165.4% in the first quarter. FMR LLC now owns 1,328,919 shares of the technology company’s stock worth $377,413,000 after buying an additional 828,139 shares in the last quarter. 54.57% of the stock is currently owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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