NetEase Inc (NASDAQ:NTES) shares traded up 6.6% during trading on Wednesday . The company traded as high as $258.72 and last traded at $258.44. 1,231,510 shares traded hands during trading, an increase of 44% from the average session volume of 853,535 shares. The stock had previously closed at $242.41.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered NetEase from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Nomura raised their price target on NetEase from $265.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 16th. Macquarie raised NetEase from a “neutral” rating to an “outperform” rating in a report on Friday, January 4th. BidaskClub raised NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Finally, Morgan Stanley lowered NetEase from an “overweight” rating to an “equal weight” rating and set a $222.49 target price on the stock. in a report on Sunday, December 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $291.23.
The stock has a market cap of $30.17 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.78.
NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, November 14th. The technology company reported $1.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.30). NetEase had a net margin of 9.22% and a return on equity of 12.66%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business earned $3.43 EPS. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NetEase Inc will post 6.76 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in NetEase by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after acquiring an additional 43,455 shares during the period. Vanguard Group Inc lifted its holdings in shares of NetEase by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock valued at $584,796,000 after buying an additional 43,455 shares during the last quarter. Comgest Global Investors S.A.S. lifted its holdings in shares of NetEase by 0.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 2,244,860 shares of the technology company’s stock valued at $512,389,000 after buying an additional 12,700 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in shares of NetEase during the 3rd quarter valued at about $276,011,000. Finally, FIL Ltd lifted its holdings in shares of NetEase by 24.1% during the 3rd quarter. FIL Ltd now owns 887,590 shares of the technology company’s stock valued at $202,593,000 after buying an additional 172,169 shares during the last quarter. Institutional investors and hedge funds own 45.32% of the company’s stock.
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About NetEase (NASDAQ:NTES)
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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