HSBC Lowers NetEase (NASDAQ:NTES) Price Target to $126.00

NetEase (NASDAQ:NTES) had its price target lowered by research analysts at HSBC from $130.00 to $126.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. HSBC’s target price indicates a potential upside of 34.29% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Morgan Stanley dropped their target price on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NetEase presently has a consensus rating of “Buy” and a consensus target price of $126.00.

NetEase Stock Up 0.8 %

Shares of NTES stock traded up $0.76 during mid-day trading on Wednesday, reaching $93.83. The stock had a trading volume of 415,891 shares, compared to its average volume of 1,736,257. The firm has a market cap of $60.49 billion, a PE ratio of 14.80, a P/E/G ratio of 0.86 and a beta of 0.58. NetEase has a one year low of $80.79 and a one year high of $118.89. The firm’s 50 day simple moving average is $103.05 and its 200 day simple moving average is $103.15.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. Sell-side analysts forecast that NetEase will post 7.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NetEase

Several institutional investors have recently bought and sold shares of NTES. Private Trust Co. NA raised its holdings in shares of NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in NetEase in the 4th quarter valued at about $37,000. USA Financial Formulas raised its stake in shares of NetEase by 1,153.1% in the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock worth $37,000 after acquiring an additional 369 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of NetEase during the third quarter worth approximately $56,000. Finally, CVA Family Office LLC bought a new stake in shares of NetEase during the fourth quarter valued at approximately $65,000. Institutional investors own 11.07% of the company’s stock.

About NetEase

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.