Benchmark Lowers NetEase (NASDAQ:NTES) Price Target to $105.00

NetEase (NASDAQ:NTES) had its price objective reduced by research analysts at Benchmark from $120.00 to $105.00 in a research 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 22.82% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Jefferies Financial Group decreased their price target on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Bank of America dropped their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Barclays decreased their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

NetEase Trading Up 1.5 %

Shares of NASDAQ:NTES opened at $85.49 on Friday. The stock has a fifty day simple moving average of $83.75 and a two-hundred day simple moving average of $88.98. NetEase has a 12-month low of $75.85 and a 12-month high of $118.89. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.89 and a beta of 0.57.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 21.14% and a net margin of 26.02%. The firm had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. NetEase’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that NetEase will post 6.08 EPS for the current year.

Hedge Funds Weigh In On NetEase

Several institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board increased its holdings in NetEase by 12.4% during the first quarter. Canada Pension Plan Investment Board now owns 327,400 shares of the technology company’s stock valued at $33,876,000 after buying an additional 36,000 shares during the last quarter. Lazard Asset Management LLC raised its holdings in NetEase by 804.5% in the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after purchasing an additional 704,753 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in NetEase by 4.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 134,344 shares of the technology company’s stock valued at $13,261,000 after purchasing an additional 6,065 shares in the last quarter. Guinness Asset Management LTD grew its holdings in NetEase by 16.7% during the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after purchasing an additional 12,410 shares during the period. Finally, Orion Portfolio Solutions LLC increased its position in NetEase by 79.0% in the first quarter. Orion Portfolio Solutions LLC now owns 12,677 shares of the technology company’s stock worth $1,312,000 after buying an additional 5,595 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

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.