HSBC Cuts NetEase (NASDAQ:NTES) Price Target to $126.00

NetEase (NASDAQ:NTES) had its price target cut by equities researchers at HSBC from $130.00 to $126.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. HSBC’s price target would indicate a potential upside of 33.87% from the company’s previous close.

Several other research analysts have also issued reports on the company. Morgan Stanley lowered their target price on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $126.00.

NetEase Stock Up 0.1 %

Shares of NASDAQ:NTES opened at $94.12 on Wednesday. The firm has a market cap of $60.68 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.85 and a beta of 0.58. NetEase has a 12-month low of $80.79 and a 12-month high of $118.89. The business has a fifty day simple moving average of $102.51 and a 200 day simple moving average of $103.03.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.20). The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. As a group, equities research analysts expect that NetEase will post 7.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pine Haven Investment Counsel Inc acquired a new stake in shares of NetEase in the 1st quarter valued at about $207,000. Mendota Financial Group LLC grew its stake in shares of NetEase by 9.2% in the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $156,000 after buying an additional 127 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of NetEase in the 1st quarter valued at about $520,000. Naviter Wealth LLC acquired a new stake in shares of NetEase in the 1st quarter valued at about $556,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of NetEase by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,501 shares of the technology company’s stock valued at $983,000 after buying an additional 430 shares during the period. 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.