NetEase (NASDAQ:NTES) Given New $105.00 Price Target at Benchmark

NetEase (NASDAQ:NTES) had its price target reduced by Benchmark from $120.00 to $105.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

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

NetEase Stock Up 1.5 %

Shares of NASDAQ:NTES traded up $1.27 during trading on Friday, reaching $85.49. 2,041,932 shares of the company’s stock traded hands, compared to its average volume of 1,748,095. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $118.89. The company has a 50-day simple moving average of $83.75 and a 200-day simple moving average of $89.01. The firm has a market cap of $54.90 billion, a PE ratio of 13.95, a P/E/G ratio of 1.69 and a beta of 0.57.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. NetEase’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. On average, equities research analysts forecast that NetEase will post 6.02 EPS for the current year.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.435 per share. The ex-dividend date is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 2.04%. NetEase’s payout ratio is 28.22%.

Hedge Funds Weigh In On NetEase

Several institutional investors have recently bought and sold shares of the company. Mather Group LLC. increased its stake in shares of NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after acquiring an additional 283 shares during the period. SYSTM Wealth Solutions LLC raised its stake in shares of NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after buying an additional 117 shares in the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of NetEase in the 2nd quarter valued at approximately $35,000. Highline Wealth Partners LLC purchased a new stake in shares of NetEase in the third quarter valued at approximately $45,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in NetEase during the third quarter worth $70,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.