Why NetEase Stock Jumped Today
Shares of NetEase (NASDAQ: NTES) have jumped today, up by 14% as of 12:20 p.m. EST on continued momentum after the Chinese video game company posted third-quarter results earlier this week. There were no new developments since the release, but investor sentiment remains bullish.
Revenue in the third quarter jumped 35.5% to $1.9 billion, and non-GAAP earnings per ADS was $3.43. NetEase launched Minecraft in China during the quarter, and quickly grabbed 30 million new registered users. Other legacy games like Fantasy Westward Journey Online and Invincible gained popularity, each hitting record quarterly revenue. NetEase both releases its own games as well as distributes games in China for other companies.
A character from NetEase's Crusaders of Light. Image source: NetEase.
Source: Fool.com
Netease Inc. ADR Stock
With 14 Buy predictions and not the single Sell prediction the community is currently very high on Netease Inc. ADR.
With a target price of 133 € there is a slightly positive potential of 16.67% for Netease Inc. ADR compared to the current price of 114.0 €.
