NetEase (NTES) Lowered to “Buy” at Vetr

Vetr lowered shares of NetEase (NASDAQ:NTES) from a strong-buy rating to a buy rating in a research report report published on Monday morning. They currently have $363.82 target price on the technology company’s stock.

A number of other research analysts have also recently issued reports on the company. ValuEngine cut NetEase from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research cut NetEase from a hold rating to a sell rating in a research report on Wednesday, November 22nd. Barclays boosted their price target on NetEase from $260.00 to $320.00 and gave the stock an equal weight rating in a report on Tuesday, November 21st. Bank of America boosted their price target on NetEase from $347.00 to $361.00 and gave the stock a buy rating in a report on Friday, November 17th. Finally, Nomura upgraded NetEase from a neutral rating to a buy rating and boosted their price target for the stock from $297.00 to $428.00 in a report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $327.05.

NetEase (NASDAQ:NTES) opened at $344.77 on Monday. NetEase has a 12-month low of $211.11 and a 12-month high of $375.10. The stock has a market capitalization of $42,471.79, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.93.

NetEase declared that its Board of Directors has initiated a stock buyback plan 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. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, December 1st were issued a $0.717 dividend. This represents a $2.87 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, November 30th. NetEase’s payout ratio is presently 25.09%.

A number of institutional investors and hedge funds have recently modified their holdings of NTES. Central Asset Investments & Management Holdings HK Ltd acquired a new position in NetEase in the third quarter valued at approximately $2,092,000. Artisan Partners Limited Partnership acquired a new position in NetEase in the second quarter valued at approximately $287,603,000. FMR LLC lifted its stake in NetEase by 63.3% in the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after buying an additional 841,692 shares during the period. Capital International Investors acquired a new position in NetEase in the third quarter valued at approximately $180,472,000. Finally, Renaissance Technologies LLC lifted its stake in NetEase by 20.1% in the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after buying an additional 456,300 shares during the period. 50.54% of the stock is currently owned by hedge funds and other institutional investors.

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About NetEase

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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