NetEase (NASDAQ:NTES) Given New $104.00 Price Target at Barclays

NetEase (NASDAQ:NTES) had its target price lifted by equities researchers at Barclays from $82.00 to $104.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 0.76% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. Bank of America raised their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Citigroup boosted their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Benchmark boosted their price target on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley upped their target price on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.57.

NetEase Price Performance

Shares of NASDAQ NTES opened at $103.22 on Monday. The stock has a fifty day moving average price of $97.77 and a 200 day moving average price of $89.78. NetEase has a 1-year low of $75.85 and a 1-year high of $114.50. The company has a market cap of $66.28 billion, a PE ratio of 16.20, a P/E/G ratio of 3.37 and a beta of 0.58.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Analysts anticipate that NetEase will post 6.91 earnings per share for the current fiscal year.

Institutional Trading of NetEase

A number of hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 6,213,248 shares during the period. Capital World Investors lifted its position in shares of NetEase by 40.6% in the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock worth $332,311,000 after acquiring an additional 1,074,818 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of NetEase by 10.8% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock worth $324,088,000 after buying an additional 354,273 shares during the period. Lazard Asset Management LLC raised its position in NetEase by 2.0% in the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company’s stock valued at $321,137,000 after purchasing an additional 69,789 shares during the last quarter. Finally, Dodge & Cox raised its position in NetEase by 0.6% in the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company’s stock valued at $236,395,000 after purchasing an additional 15,900 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

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.