NetEase, Inc. (NTES) Price Target Raised to $361.00
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.
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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.
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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