NetEase, the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Miranda Zhuang from Bank of America Securities reiterated a Buy rating on the stock and has a $142.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Miranda Zhuang has given her Buy rating due to a combination of factors that highlight NetEase’s strong performance and future potential. The company’s online games revenue experienced a significant year-over-year growth, driven by continued player engagement in flagship titles and international success. Despite a slight miss in game revenue expectations, the deferred revenue showed a robust increase, indicating potential future earnings.
Furthermore, NetEase’s strategic content updates and player activities have bolstered the momentum of key game titles. Notable achievements include Fantasy Westward Journey PC reaching a 22-year high in concurrent users and Marvel Rivals climbing the global charts. Upcoming releases and updates, such as Destiny Rising and the return of popular Blizzard titles, are expected to sustain this positive trajectory. These factors, coupled with a maintained price objective, underpin the Buy rating.
According to TipRanks, Zhuang is an analyst with an average return of -11.6% and a 33.33% success rate. Zhuang covers the Communication Services sector, focusing on stocks such as Baidu, Bilibili, and NetEase.
In another report released on August 15, Benchmark Co. also reiterated a Buy rating on the stock with a $145.00 price target.