NetEase Inc ADR [NASDAQ: NTES] plunged by -$2.36 during the normal trading session on while it closed the day at $103.58. The company report on February 29, 2024 at 3:50 AM that Cloud Music Inc. Reports Fiscal Year 2023 Financial Results.
Cloud Music Inc. (HKEX: 9899, “NetEase Cloud Music” or the “Company”), a leading interactive music streaming service provider in China, today announced its financial results for the fiscal year 2023 ended December 31, 2023.
Summary of Key Financial and Operating Metrics (RMB in thousands, unless otherwise stated).
NetEase Inc ADR stock has also loss -7.75% of its value over the past 7 days. However, NTES stock has declined by -0.58% in the 3 months of the year. Over the past six months meanwhile, it has gained 2.15% and gained 11.19% year-on date.
The market cap for NTES stock reached $64.76 billion, with 644.72 million shares outstanding and 624.58 million shares in the current float. Compared to the average trading volume of 2.41M shares, NTES reached a trading volume of 4022189 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about NetEase Inc ADR [NTES]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NTES shares is $134.34 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NTES stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Macquarie have made an estimate for NetEase Inc ADR shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 11, 2024. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on June 05, 2023, representing the official price target for NetEase Inc ADR stock. Previously, the target price had yet another raise from $85 to $100, while JP Morgan kept a Overweight rating on NTES stock. On September 07, 2022, analysts decreased their price target for NTES shares from 120 to 90.
The Average True Range (ATR) for NetEase Inc ADR is set at 3.59, with the Price to Sales ratio for NTES stock in the period of the last 12 months amounting to 4.44. The Price to Book ratio for the last quarter was 4.02, with the Price to Cash per share for the same quarter was set at 29.21. Price to Free Cash Flow for NTES in the course of the last twelve months was 13.89 with Quick ratio for the last quarter at 2.64.
NTES stock trade performance evaluation
NetEase Inc ADR [NTES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.75. With this latest performance, NTES shares gained by 2.89% in over the last four-week period, additionally plugging by 2.15% over the last 6 months – not to mention a rise of 19.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NTES stock in for the last two-week period is set at 46.21, with the RSI for the last a single of trading hit 40.18, and the three-weeks RSI is set at 48.79 for NetEase Inc ADR [NTES]. The present Moving Average for the last 50 days of trading for this stock 99.74, while it was recorded at 107.36 for the last single week of trading, and 101.73 for the last 200 days.
NetEase Inc ADR [NTES]: An insightful look at the core fundamentals
NetEase Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.64 and a Current Ratio set at 2.65.
Earnings per share (EPS) analysis for NetEase Inc ADR [NTES] stock
With the latest financial reports released by the company, NetEase Inc ADR posted 1.62/share EPS, while the average EPS was predicted by analysts to be reported at 1.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 31.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NTES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NetEase Inc ADR go to 2.57%.
NetEase Inc ADR [NTES]: Institutional Ownership
The top three institutional holders of NTES stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NTES stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NTES stock with ownership which is approximately 5.8325%.
