Shares of NetEase, Inc. (NASDAQ:NTES – Get Free Report) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $160.5714.
NTES has been the subject of several recent research reports. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Weiss Ratings cut NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Sanford C. Bernstein restated an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research note on Friday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Finally, Nomura upped their price target on NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th.
View Our Latest Report on NTES
Insider Buying and Selling
Hedge Funds Weigh In On NetEase
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its position in NetEase by 64.2% in the first quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after acquiring an additional 227,433 shares in the last quarter. Bank of America Corp DE raised its position in NetEase by 111.4% during the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after purchasing an additional 698,318 shares in the last quarter. Temasek Holdings Private Ltd raised its position in NetEase by 50.7% during the first quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock valued at $79,266,000 after purchasing an additional 238,386 shares in the last quarter. NewEdge Wealth LLC lifted its stake in NetEase by 114.3% during the first quarter. NewEdge Wealth LLC now owns 48,068 shares of the technology company’s stock worth $5,381,000 after purchasing an additional 25,634 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in NetEase by 40.8% during the first quarter. Royal Bank of Canada now owns 99,814 shares of the technology company’s stock worth $11,173,000 after purchasing an additional 28,934 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.
NetEase Price Performance
Shares of NTES stock opened at $119.29 on Friday. The stock has a market capitalization of $76.38 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.38 and a beta of 0.72. The company’s fifty day simple moving average is $126.98 and its two-hundred day simple moving average is $120.50. NetEase has a 1 year low of $106.06 and a 1 year high of $159.55.
NetEase Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 annualized dividend and a yield of 1.6%. NetEase’s payout ratio is currently 26.31%.
About NetEase
NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.
The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.
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