Nomura Trims NetEase (NTES) Target Price to $265.00

NetEase (NASDAQ:NTES) had its price target reduced by Nomura from $352.00 to $265.00 in a report released on Monday morning, The Fly reports.

Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of NetEase from a c+ rating to a b rating in a report on Friday, August 10th. BidaskClub upgraded shares of NetEase from a hold rating to a buy rating in a report on Tuesday, October 2nd. Jefferies Financial Group upgraded shares of NetEase from a hold rating to a buy rating in a report on Friday, September 21st. Zacks Investment Research upgraded shares of NetEase from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, Barclays decreased their target price on shares of NetEase from $275.00 to $260.00 and set a hold rating for the company in a report on Thursday, August 30th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $311.92.

Shares of NTES opened at $207.85 on Monday. The company has a market capitalization of $26.42 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.27 and a beta of 0.79. NetEase has a 12-month low of $184.60 and a 12-month high of $377.64.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.82. NetEase had a net margin of 11.49% and a return on equity of 14.57%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Research analysts expect that NetEase will post 7.42 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of NetEase during the second quarter worth approximately $108,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NetEase by 96.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after purchasing an additional 227 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in shares of NetEase by 286.3% during the third quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock worth $151,000 after purchasing an additional 30,861 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of NetEase during the second quarter worth approximately $167,000. Finally, Guinness Asset Management Ltd boosted its holdings in shares of NetEase by 59.1% during the third quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock worth $196,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 45.38% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

Featured Article: What is a balanced fund?

The Fly

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply