NetEase (NASDAQ:NTES) Shares Gap Up to $65.50

NetEase, Inc. (NASDAQ:NTESGet Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $65.50, but opened at $67.25. NetEase shares last traded at $67.28, with a volume of 10,129 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NTES shares. Citigroup boosted their target price on NetEase from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 18th. TheStreet cut NetEase from a “b-” rating to a “c” rating in a report on Monday, November 7th. HSBC dropped their target price on NetEase from $122.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 18th. JPMorgan Chase & Co. lowered shares of NetEase from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $120.00 to $90.00 in a research report on Wednesday, September 7th. Finally, StockNews.com upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $111.50.

NetEase Stock Performance

The company has a quick ratio of 2.29, a current ratio of 2.31 and a debt-to-equity ratio of 0.03. The stock has a market cap of $43.63 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.12 and a beta of 0.37. The company’s 50-day simple moving average is $69.63 and its 200-day simple moving average is $84.77.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 2.61%. This is a boost from NetEase’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, December 1st. NetEase’s payout ratio is presently 28.54%.

Hedge Funds Weigh In On NetEase

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTES. Clear Street Markets LLC purchased a new position in NetEase during the 3rd quarter worth approximately $30,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in NetEase during the 2nd quarter worth approximately $31,000. James Investment Research Inc. purchased a new position in NetEase during the 2nd quarter worth approximately $34,000. FNY Investment Advisers LLC grew its position in NetEase by 549.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 487 shares of the technology company’s stock worth $36,000 after purchasing an additional 412 shares in the last quarter. Finally, CWM LLC grew its position in NetEase by 127.7% during the 2nd quarter. CWM LLC now owns 444 shares of the technology company’s stock worth $41,000 after purchasing an additional 249 shares in the last quarter. 14.76% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

(Get Rating)

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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