2 Catalysts That Could Push NetEase Higher
NetEase (NASDAQ: NTES) stock got a big shot in the arm after the company delivered a stellar third-quarter report on Nov. 15, putting fears about a slowdown in its business to rest in emphatic fashion. In October, investment banking firm Jefferies had downgraded the Chinese video gaming specialist, stating that a lack of new game launches would take a toll on revenue.
But a 35% year-over-year jump in revenue in the most recent quarter clearly shows that NetEase's mobile gaming business has continued improving, while its e-commerce business is improving rapidly with each passing quarter. These two businesses will be the cornerstone of NetEase's long-term growth, as evident from management's comments during the latest earnings call.
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Source: Fool.com
Netease Inc. ADR Stock
Netease Inc. ADR is currently one of the favorites of our community with 11 Buy predictions and no Sell predictions.
As a result the target price of 119 € shows a positive potential of 30.05% compared to the current price of 91.5 € for Netease Inc. ADR.
