NetEase (NTES) Lowered to “Buy” at Vetr
Vetr lowered shares of NetEase (NASDAQ:NTES) from a strong-buy rating to a buy rating in a research report report published on Monday morning. They currently have $363.82 target price on the technology company’s stock.
A number of other research analysts have also recently issued reports on the company. ValuEngine cut NetEase from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research cut NetEase from a hold rating to a sell rating in a research report on Wednesday, November 22nd. Barclays boosted their price target on NetEase from $260.00 to $320.00 and gave the stock an equal weight rating in a report on Tuesday, November 21st. Bank of America boosted their price target on NetEase from $347.00 to $361.00 and gave the stock a buy rating in a report on Friday, November 17th. Finally, Nomura upgraded NetEase from a neutral rating to a buy rating and boosted their price target for the stock from $297.00 to $428.00 in a report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $327.05.
NetEase (NASDAQ:NTES) opened at $344.77 on Monday. NetEase has a 12-month low of $211.11 and a 12-month high of $375.10. The stock has a market capitalization of $42,471.79, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.93.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, December 1st were issued a $0.717 dividend. This represents a $2.87 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, November 30th. NetEase’s payout ratio is presently 25.09%.
A number of institutional investors and hedge funds have recently modified their holdings of NTES. Central Asset Investments & Management Holdings HK Ltd acquired a new position in NetEase in the third quarter valued at approximately $2,092,000. Artisan Partners Limited Partnership acquired a new position in NetEase in the second quarter valued at approximately $287,603,000. FMR LLC lifted its stake in NetEase by 63.3% in the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after buying an additional 841,692 shares during the period. Capital International Investors acquired a new position in NetEase in the third quarter valued at approximately $180,472,000. Finally, Renaissance Technologies LLC lifted its stake in NetEase by 20.1% in the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after buying an additional 456,300 shares during the period. 50.54% of the stock is currently owned by hedge funds and other institutional investors.
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NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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