Benchmark Boosts NetEase (NASDAQ:NTES) Price Target to $145.00

NetEase (NASDAQ:NTES) had its target price raised by analysts at Benchmark from $144.00 to $145.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s price target points to a potential upside of 53.05% from the stock’s current price.

A number of other equities research analysts have also weighed in on NTES. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 target price (down previously from $120.00) on shares of NetEase in a research note on Thursday. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 16th. Finally, HSBC reduced their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $124.13.

NetEase Trading Down 3.7 %

NASDAQ NTES opened at $94.74 on Friday. NetEase has a 1-year low of $80.79 and a 1-year high of $118.89. The stock has a 50-day moving average of $98.80 and a 200-day moving average of $102.05. The firm has a market cap of $60.84 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.80 and a beta of 0.58.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. As a group, equities research analysts forecast that NetEase will post 7.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Trust Co. NA grew its holdings in shares of NetEase by 418.9% during the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after acquiring an additional 222 shares during the period. Chilton Capital Management LLC purchased a new position in shares of NetEase during the 4th quarter worth approximately $37,000. USA Financial Formulas grew its holdings in shares of NetEase by 1,153.1% during the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock worth $37,000 after acquiring an additional 369 shares during the period. UMB Bank n.a. purchased a new position in shares of NetEase during the 1st quarter worth approximately $50,000. Finally, ORG Partners LLC purchased a new position in shares of NetEase during the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.