NetEase, Inc. (NASDAQ:NTES) Stock Has Average Target Price of $159.86

NetEase, Inc. (NASDAQ:NTES) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $159.86.

A number of brokerages recently issued reports on NTES. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $163.00 price target on shares of NetEase in a research note on Monday, September 28th. Zacks Research cut NetEase from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Weiss Ratings lowered NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, BNP Paribas Exane initiated coverage on NetEase in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price objective on the stock.

Insider Activity at NetEase

In related news, VP Aileen Mo sold 716 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 54.70% of the company’s stock.

Hedge Funds Weigh In On NetEase

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in NetEase during the first quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in shares of NetEase in the 3rd quarter valued at about $43,000. Allworth Financial LP boosted its position in shares of NetEase by 210.2% during the 2nd quarter. Allworth Financial LP now owns 667 shares of the technology company’s stock valued at $85,000 after purchasing an additional 452 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in NetEase by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock worth $87,000 after purchasing an additional 107 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in NetEase during the second quarter worth approximately $102,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NASDAQ NTES opened at $113.64 on Friday. The stock has a market cap of $72.76 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.32 and a beta of 0.68. NetEase has a 52-week low of $106.06 and a 52-week high of $149.11. The business has a 50 day simple moving average of $120.01 and a 200 day simple moving average of $121.31.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 3rd. This is a negative change from NetEase’s previous quarterly dividend of $0.72. NetEase’s payout ratio is currently 26.31%.

NetEase Company Profile

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.