NetEase (NASDAQ:NTES) issued its quarterly earnings results on Wednesday. The technology company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.89, Morningstar.com reports. NetEase had a return on equity of 13.60% and a net margin of 9.12%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. NetEase’s revenue for the quarter was up 23.0% compared to the same quarter last year.
NASDAQ NTES traded up $13.18 on Thursday, reaching $275.22. The stock had a trading volume of 56,079 shares, compared to its average volume of 748,743. NetEase has a 1 year low of $184.60 and a 1 year high of $289.68. The company has a market capitalization of $33.43 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 24.89 and a beta of 0.81.
NTES has been the topic of a number of research analyst reports. Zacks Investment Research upgraded 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. BidaskClub upgraded NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. TH Capital boosted their target price on NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Barclays boosted their target price on NetEase from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, Jefferies Financial Group downgraded NetEase from a “buy” rating to a “hold” rating and set a $245.00 target price on the stock. in a research note on Thursday, February 21st. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. NetEase has an average rating of “Buy” and an average target price of $278.45.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of NetEase by 12.9% in the fourth quarter. BlackRock Inc. now owns 5,280,932 shares of the technology company’s stock worth $1,242,973,000 after buying an additional 602,693 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of NetEase by 15.1% in the first quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock worth $955,757,000 after buying an additional 518,036 shares during the last quarter. Vanguard Group Inc lifted its position in shares of NetEase by 1.7% in the third quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after buying an additional 43,455 shares during the last quarter. FMR LLC lifted its position in shares of NetEase by 3.5% in the fourth quarter. FMR LLC now owns 2,172,576 shares of the technology company’s stock worth $511,359,000 after buying an additional 72,461 shares during the last quarter. Finally, Overlook Holdings Ltd lifted its position in shares of NetEase by 7.8% in the fourth quarter. Overlook Holdings Ltd now owns 925,560 shares of the technology company’s stock worth $217,849,000 after buying an additional 66,622 shares during the last quarter. Hedge funds and other 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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