Goldman Sachs Group reiterated their buy rating on shares of NetEase (NASDAQ:NTES) in a report published on Thursday, MarketBeat reports. They currently have a $432.00 price target on the technology company’s stock, up from their prior price target of $340.00. The analysts noted that the move was a valuation call.
NTES has been the topic of a number of other reports. Vetr upgraded shares of NetEase from a hold rating to a buy rating and set a $323.68 price target on the stock in a report on Monday, November 13th. Jefferies Group reiterated a hold rating and issued a $302.00 price target on shares of NetEase in a report on Friday, November 17th. Barclays set a $315.00 target price on shares of NetEase and gave the stock an equal weight rating in a report on Tuesday, January 2nd. ValuEngine downgraded shares of NetEase from a buy rating to a hold rating in a report on Friday, December 1st. Finally, BidaskClub downgraded shares of NetEase from a hold rating to a sell rating in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $348.96.
Shares of NetEase (NASDAQ NTES) traded up $3.36 during midday trading on Thursday, reaching $325.55. 1,413,767 shares of the company’s stock were exchanged, compared to its average volume of 1,360,000. The company has a market cap of $43,450.00, a P/E ratio of 21.08, a P/E/G ratio of 1.54 and a beta of 0.94. NetEase has a one year low of $239.21 and a one year high of $377.64.
NetEase announced that its board has authorized a share repurchase program on Wednesday, November 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of NetEase by 117.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after purchasing an additional 267 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of NetEase by 22.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares during the period. Mariner Wealth Advisors LLC purchased a new position in shares of NetEase during the 2nd quarter worth about $203,000. Cibc Bank USA purchased a new position in shares of NetEase during the 4th quarter worth about $204,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of NetEase during the 2nd quarter worth about $218,000. Hedge funds and other institutional investors own 50.34% 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.
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