NetEase, Inc. (NASDAQ:NTES) Stock Has Consensus Target Price of $159.86 According to Analysts

Shares of NetEase, Inc. (NASDAQ:NTES) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $159.86.

Several equities analysts have recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $163.00 price target on shares of NetEase in a report on Monday, September 28th. Nomura raised their target price on shares of NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Sanford C. Bernstein reiterated an “outperform” rating and set a $160.00 price target on shares of NetEase in a report on Friday, August 21st. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Finally, Zacks Research lowered NetEase from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th.

NetEase Stock Performance

Shares of NASDAQ NTES opened at $118.32 on Friday. NetEase has a 52-week low of $106.06 and a 52-week high of $149.11. The stock has a market cap of $75.75 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.39 and a beta of 0.68. The firm has a 50 day moving average price of $121.02 and a 200 day moving average price of $122.03.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Thursday, September 3rd were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, September 3rd. This is a drop from NetEase’s previous quarterly dividend of $0.72. NetEase’s payout ratio is presently 26.31%.

Insider Buying and Selling at NetEase

In related news, VP Aileen Mo sold 716 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 54.70% of the company’s stock.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of NetEase by 25.2% in the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after purchasing an additional 274,500 shares during the period. Bank of America Corp DE boosted its holdings in shares of NetEase by 111.4% during the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after buying an additional 698,318 shares during the period. Dimensional Fund Advisors LP grew its stake in NetEase by 16.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after buying an additional 155,784 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in NetEase by 50.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock valued at $79,266,000 after buying an additional 238,386 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock valued at $65,118,000 after buying an additional 227,433 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

About NetEase

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.