NetEase, Inc. (NASDAQ:NTES) had its target price hoisted by Bank of America Corporation from $347.00 to $361.00 in a research report sent to investors on Friday. They currently have a buy rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on NTES. Nomura raised shares of NetEase from a neutral rating to a buy rating and lifted their price target for the company from $297.00 to $428.00 in a research report on Friday. Jefferies Group LLC reissued a hold rating and set a $302.00 target price on shares of NetEase in a research report on Friday. Deutsche Bank AG set a $334.00 target price on shares of NetEase and gave the stock a buy rating in a research report on Thursday, November 16th. BidaskClub raised shares of NetEase from a hold rating to a buy rating in a research report on Thursday, August 10th. Finally, CLSA cut shares of NetEase from an outperform rating to an underperform rating in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $320.38.

Shares of NetEase (NASDAQ:NTES) opened at $344.07 on Friday. NetEase has a twelve month low of $211.11 and a twelve month high of $375.10. The stock has a market cap of $45,840.00, a P/E ratio of 24.47, a P/E/G ratio of 1.55 and a beta of 0.93.

COPYRIGHT VIOLATION NOTICE: “NetEase, Inc. (NTES) Price Target Raised to $361.00” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.thecerbatgem.com/2017/11/21/netease-inc-ntes-price-target-raised-to-361-00.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, December 1st will be issued a $0.717 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.87 annualized dividend and a yield of 0.83%. NetEase’s dividend payout ratio is presently 24.73%.

NetEase announced that its board has initiated a stock repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in NetEase by 20.1% in the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after acquiring an additional 456,300 shares in the last quarter. Orbis Allan Gray Ltd raised its holdings in NetEase by 17.9% in the second quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock valued at $739,364,000 after acquiring an additional 372,510 shares in the last quarter. Comgest Global Investors S.A.S. raised its holdings in NetEase by 2.6% in the third quarter. Comgest Global Investors S.A.S. now owns 2,265,783 shares of the technology company’s stock valued at $597,737,000 after acquiring an additional 58,279 shares in the last quarter. FMR LLC raised its holdings in NetEase by 63.3% in the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after acquiring an additional 841,692 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in NetEase in the third quarter valued at $2,092,000. 50.70% of the stock is currently owned by hedge funds and other institutional investors.

About NetEase

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Stock Ratings for NetEase Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase Inc. and related stocks with our FREE daily email newsletter.