Barclays Increases NetEase (NASDAQ:NTES) Price Target to $104.00

NetEase (NASDAQ:NTES) had its price target increased by research analysts at Barclays from $82.00 to $104.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 0.76% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Benchmark boosted their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Bank of America lifted their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and a consensus price target of $114.57.

NetEase Price Performance

NASDAQ:NTES opened at $103.22 on Monday. NetEase has a one year low of $75.85 and a one year high of $114.50. The company’s 50-day simple moving average is $97.77 and its 200 day simple moving average is $89.78. The firm has a market capitalization of $66.28 billion, a P/E ratio of 16.20, a PEG ratio of 3.37 and a beta of 0.58.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. On average, equities research analysts expect that NetEase will post 6.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Brooklyn Investment Group purchased a new stake in shares of NetEase during the fourth quarter worth approximately $34,000. UMB Bank n.a. increased its stake in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the period. Highline Wealth Partners LLC acquired a new position in NetEase in the third quarter valued at approximately $45,000. Finally, Live Oak Investment Partners acquired a new position in NetEase in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds 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.