NetEase (NASDAQ:NTES) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

NetEase (NASDAQ:NTES) released its quarterly earnings results on Thursday. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.73 by $0.14, Zacks reports. NetEase had a return on equity of 20.82% and a net margin of 26.02%.

NetEase Stock Performance

Shares of NASDAQ NTES traded down $4.92 during trading on Thursday, reaching $99.25. The stock had a trading volume of 1,011,123 shares, compared to its average volume of 1,330,578. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The business’s 50-day moving average price is $97.51 and its 200-day moving average price is $89.56. The company has a market cap of $63.73 billion, a P/E ratio of 16.72, a PEG ratio of 3.48 and a beta of 0.58.

Analysts Set New Price Targets

NTES has been the topic of several research analyst reports. Citigroup boosted their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Morgan Stanley boosted their price target on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Bank of America boosted their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

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.