NetEase (NASDAQ:NTES) Releases Earnings Results, Beats Estimates By $0.14 EPS

NetEase (NASDAQ:NTES) announced its earnings results on Thursday. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14, Zacks reports. NetEase had a net margin of 26.02% and a return on equity of 20.82%.

NetEase Trading Down 4.8 %

Shares of NTES stock traded down $4.99 during trading hours on Thursday, hitting $99.18. 1,107,083 shares of the company were exchanged, compared to its average volume of 1,333,713. The business has a 50 day moving average of $97.51 and a two-hundred day moving average of $89.56. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50. The company has a market capitalization of $63.69 billion, a PE ratio of 16.70, a PEG ratio of 3.48 and a beta of 0.58.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTES shares. Benchmark cut their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Bank of America increased their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Morgan Stanley increased their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.00.

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.