NetEase (NASDAQ:NTES) Sets New 52-Week High - Should You Buy?

NetEase, Inc. (NASDAQ:NTES - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $127.35 and last traded at $127.10, with a volume of 129065 shares traded. The stock had previously closed at $126.06.

Wall Street Analysts Forecast Growth

Several research firms have commented on NTES. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Benchmark boosted their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Up 1.1%

The stock has a market capitalization of $81.50 billion, a PE ratio of 20.19, a PEG ratio of 3.37 and a beta of 0.66. The business's 50-day moving average is $108.14 and its two-hundred day moving average is $100.89.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.675 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.10%. NetEase's payout ratio is 38.71%.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC purchased a new position in NetEase during the first quarter worth about $26,000. Farther Finance Advisors LLC grew its position in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after buying an additional 152 shares during the period. Mather Group LLC. grew its position in NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after buying an additional 283 shares during the period. Live Oak Investment Partners acquired a new position in NetEase during the fourth quarter worth about $62,000. Finally, Strs Ohio acquired a new position in NetEase during the first quarter worth about $63,000. 11.07% of the stock is 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.