NetEase (NASDAQ:NTES) Shares Gap Up – Should You Buy?

Shares of NetEase, Inc. (NASDAQ:NTES) gapped up prior to trading on Monday . The stock had previously closed at $91.11, but opened at $94.69. NetEase shares last traded at $94.28, with a volume of 610,074 shares.

Wall Street Analyst Weigh In

NTES has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark dropped their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and an average price target of $108.43.

NetEase Trading Up 2.7 %

The stock has a fifty day moving average of $88.50 and a two-hundred day moving average of $87.73. The stock has a market capitalization of $60.11 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.86%. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTES. SYSTM Wealth Solutions LLC raised its stake in shares of NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of NetEase in the second quarter valued at approximately $35,000. Highline Wealth Partners LLC bought a new position in NetEase in the 3rd quarter worth approximately $45,000. RPg Family Wealth Advisory LLC bought a new position in NetEase in the 3rd quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in NetEase during the 3rd quarter worth $76,000. Institutional investors and hedge funds 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.