Vetr upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Vetr currently has $363.82 target price on the technology company’s stock.
A number of other research analysts also recently commented on the stock. UBS Group downgraded shares of NetEase from a buy rating to a neutral rating in a research report on Monday, October 30th. Nomura raised shares of NetEase from a neutral rating to a buy rating and increased their target price for the company from $297.00 to $428.00 in a research report on Friday, November 17th. Zacks Investment Research raised shares of NetEase from a strong sell rating to a hold rating in a research report on Wednesday, October 11th. Deutsche Bank set a $325.00 target price on shares of NetEase and gave the company a buy rating in a research report on Friday, October 6th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $315.00 target price on shares of NetEase in a research report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $329.79.
NetEase (NASDAQ NTES) traded down $1.98 during midday trading on Monday, hitting $340.01. 1,250,074 shares of the company were exchanged, compared to its average volume of 1,681,550. The stock has a market cap of $44,920.00, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. NetEase has a 1 year low of $216.89 and a 1 year high of $377.64.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, December 1st were paid a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Thursday, November 30th. NetEase’s dividend payout ratio is currently 23.88%.
NetEase announced that its Board of Directors has authorized a share buyback program on Wednesday, November 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of NetEase by 117.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after acquiring an additional 267 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of NetEase by 22.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after acquiring an additional 98 shares during the period. Mariner Wealth Advisors LLC acquired a new stake in shares of NetEase in the 2nd quarter worth $203,000. Yorktown Management & Research Co Inc acquired a new stake in shares of NetEase in the 2nd quarter worth $210,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NetEase in the 2nd quarter worth $218,000. Hedge funds and other institutional investors own 50.42% of the company’s stock.
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NetEase Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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