NetEase (NASDAQ:NTES) Shares Gap Up – Still a Buy?

NetEase, Inc. (NASDAQ:NTES) gapped up before the market opened on Monday . The stock had previously closed at $91.29, but opened at $100.00. NetEase shares last traded at $101.98, with a volume of 1,698,618 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on NTES. Citigroup boosted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays cut their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Bank of America cut their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Benchmark cut their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Stock Performance

The company’s 50 day simple moving average is $85.99 and its 200-day simple moving average is $87.74. The firm has a market capitalization of $62.23 billion, a PE ratio of 16.15, a PEG ratio of 3.37 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.80%. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its position in shares of NetEase by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock valued at $246,000 after acquiring an additional 107 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its position in NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp lifted its position in NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after purchasing an additional 146 shares during the last quarter. State Street Corp grew its stake in NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after buying an additional 156 shares in the last quarter. Finally, Financial Advocates Investment Management increased its holdings in shares of NetEase by 5.4% in the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after buying an additional 237 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.