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

NetEase (NASDAQ:NTES) announced its quarterly 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 return on equity of 20.82% and a net margin of 26.02%.

NetEase Price Performance

NASDAQ NTES traded down $4.92 during trading hours on Thursday, hitting $99.25. The company had a trading volume of 1,011,123 shares, compared to its average volume of 1,330,578. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The company has a market capitalization of $63.73 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 3.48 and a beta of 0.58. The firm’s 50 day moving average is $97.51 and its 200 day moving average is $89.56.

Wall Street Analysts Forecast Growth

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