Barclays Increases NetEase (NTES) Price Target to $300.00

NetEase (NASDAQ:NTES) had its target price lifted by Barclays from $275.00 to $300.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 14.49% from the stock’s current price. The analysts noted that the move was a valuation call.

NTES has been the topic of several other reports. BidaskClub raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Zacks Investment Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $289.00 price target on the stock in a report on Wednesday, February 6th. ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Jefferies Financial Group downgraded shares of NetEase from a “buy” rating to a “hold” rating and set a $245.00 price target on the stock. in a report on Thursday, February 21st. Finally, Sanford C. Bernstein began coverage on shares of NetEase in a report on Monday, January 14th. They set a “mkt perform” rating and a $240.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $277.45.

NTES stock opened at $262.04 on Tuesday. The firm has a market capitalization of $33.43 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 24.89 and a beta of 0.81. NetEase has a 12 month low of $184.60 and a 12 month high of $289.68.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Wednesday, February 20th. The technology company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.51 by $0.41. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.91 billion. NetEase had a net margin of 9.12% and a return on equity of 13.60%. During the same period in the prior year, the firm earned $2.18 EPS. As a group, sell-side analysts predict that NetEase will post 7.31 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of NTES. Norges Bank acquired a new position in NetEase during the fourth quarter worth $214,335,000. BlackRock Inc. raised its position in NetEase by 12.9% during the fourth quarter. BlackRock Inc. now owns 5,280,932 shares of the technology company’s stock worth $1,242,973,000 after acquiring an additional 602,693 shares during the period. Lazard Asset Management LLC raised its position in NetEase by 15.1% during the first quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock worth $955,757,000 after acquiring an additional 518,036 shares during the period. Morgan Stanley raised its position in NetEase by 174.4% during the first quarter. Morgan Stanley now owns 317,565 shares of the technology company’s stock worth $76,676,000 after acquiring an additional 201,816 shares during the period. Finally, Coronation Fund Managers Ltd. raised its position in NetEase by 980.8% during the first quarter. Coronation Fund Managers Ltd. now owns 220,055 shares of the technology company’s stock worth $53,133,000 after acquiring an additional 199,694 shares during the period. Institutional investors own 44.96% of the company’s stock.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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.

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