NetEase (NASDAQ:NTES) Price Target Cut to $105.00 by Analysts at Benchmark

NetEase (NASDAQ:NTES) had its price target lowered by research analysts at Benchmark from $120.00 to $105.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s price objective would suggest a potential upside of 22.82% from the stock’s previous close.

Several other equities analysts also recently commented on NTES. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Jefferies Financial Group dropped their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Bank of America cut their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company 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 on the stock in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Stock Performance

Shares of NTES stock 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. The firm has a market capitalization of $54.90 billion, a PE ratio of 14.44, a PEG ratio of 1.89 and a beta of 0.57. NetEase has a 52-week low of $75.85 and a 52-week high of $118.89.

NetEase (NASDAQ:NTES) last released its 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 analysts’ expectations of $26.01 billion. During the same quarter last year, the business posted $1.75 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that NetEase will post 6.08 EPS for the current fiscal year.

Institutional Investors Weigh In On NetEase

Large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NetEase by 13,747.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after purchasing an additional 6,213,248 shares during the period. Hhlr Advisors LTD. boosted its stake in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after buying an additional 1,203,129 shares during the period. Price T Rowe Associates Inc. MD bought a new position in NetEase during the first quarter valued at $103,658,000. Lazard Asset Management LLC increased its position in NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after acquiring an additional 704,753 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after acquiring an additional 632,896 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

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.