Citigroup Increases NetEase (NASDAQ:NTES) Price Target to $100.00

NetEase (NASDAQ:NTESGet Rating) had its price objective boosted by research analysts at Citigroup from $98.00 to $100.00 in a report released on Friday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective suggests a potential upside of 48.28% from the company’s current price.

Several other research analysts have also recently weighed in on NTES. TheStreet cut NetEase from a “b-” rating to a “c” rating in a research note on Monday, November 7th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 15th. Finally, JPMorgan Chase & Co. cut NetEase from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $120.00 to $90.00 in a research report on Wednesday, September 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average target price of $111.50.

NetEase Stock Down 5.0 %

NTES stock opened at $67.44 on Friday. NetEase has a 1-year low of $53.09 and a 1-year high of $118.19. The business has a fifty day moving average price of $70.86 and a 200-day moving average price of $85.32. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.23 and a quick ratio of 2.21. The stock has a market capitalization of $44.16 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.23 and a beta of 0.37.

NetEase (NASDAQ:NTESGet Rating) last posted its quarterly earnings results on Thursday, August 18th. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.14. NetEase had a return on equity of 20.48% and a net margin of 22.99%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Equities analysts forecast that NetEase will post 4.12 earnings per share for the current fiscal year.

Institutional Trading of NetEase

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. increased its position in NetEase by 20.2% in the first quarter. NN Investment Partners Holdings N.V. now owns 193,100 shares of the technology company’s stock worth $17,319,000 after buying an additional 32,400 shares in the last quarter. Parametrica Management Ltd purchased a new stake in NetEase in the first quarter worth about $349,000. Toroso Investments LLC increased its position in NetEase by 1.1% in the first quarter. Toroso Investments LLC now owns 88,899 shares of the technology company’s stock worth $7,973,000 after buying an additional 977 shares in the last quarter. Flossbach Von Storch AG boosted its stake in shares of NetEase by 8.2% in the first quarter. Flossbach Von Storch AG now owns 46,000 shares of the technology company’s stock worth $4,126,000 after acquiring an additional 3,500 shares during the period. Finally, Sierra Capital LLC boosted its stake in shares of NetEase by 32.7% in the second quarter. Sierra Capital LLC now owns 1,516 shares of the technology company’s stock worth $142,000 after acquiring an additional 374 shares during the period. Hedge funds and other institutional investors own 14.76% of the company’s stock.

About NetEase

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NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

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