Barclays Analysts Give NetEase (NTES) a $315.00 Price Target
Barclays set a $315.00 price objective on NetEase (NASDAQ:NTES) in a report published on Tuesday, MarketBeat.com reports. The firm currently has an equal weight rating on the technology company’s stock.
Several other equities research analysts have also issued reports on the company. UBS Group lowered NetEase from a buy rating to a neutral rating in a report on Monday, October 30th. Nomura upgraded NetEase from a neutral rating to a buy rating and lifted their price target for the company from $297.00 to $428.00 in a report on Friday, November 17th. Zacks Investment Research upgraded NetEase from a strong sell rating to a hold rating in a report on Wednesday, October 11th. Vetr lowered NetEase from a strong-buy rating to a buy rating and set a $313.68 price target for the company. in a report on Monday, November 6th. Finally, Deutsche Bank set a $325.00 price target on NetEase and gave the company a buy rating in a report on Friday, October 6th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. NetEase has a consensus rating of Hold and an average target price of $329.79.
Shares of NetEase (NASDAQ:NTES) traded down $1.98 during trading on Tuesday, hitting $340.01. The stock had a trading volume of 1,253,800 shares, compared to its average volume of 1,538,967. The firm has a market cap of $45,880.00, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.60 and a beta of 0.94. NetEase has a fifty-two week low of $219.80 and a fifty-two week high of $377.64.
NetEase announced that its board has authorized a stock buyback program on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, December 1st were issued a $0.717 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $2.87 annualized dividend and a yield of 0.84%. NetEase’s dividend payout ratio (DPR) is currently 23.85%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel acquired a new stake in NetEase in the 4th quarter worth approximately $3,805,000. AXA increased its position in NetEase by 5.9% in the 3rd quarter. AXA now owns 32,431 shares of the technology company’s stock worth $8,555,000 after buying an additional 1,820 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new position in NetEase in the 3rd quarter worth approximately $2,092,000. Cetera Advisor Networks LLC increased its position in NetEase by 18.0% in the 3rd quarter. Cetera Advisor Networks LLC now owns 1,556 shares of the technology company’s stock worth $411,000 after buying an additional 237 shares during the period. Finally, TT International bought a new position in NetEase in the 3rd quarter worth approximately $17,715,000. Hedge funds and other institutional investors own 50.42% of the company’s stock.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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