Why NetEase Stock Soared 48% So Far in 2017
Shares of Chinese online services company NetEase (NASDAQ: NTES) have gained nearly 50% in value since the beginning of the year, according to data provided by S&P Global Market Intelligence, fueled by the torrid growth of China's video game market.
Image source: Getty Images.
NetEase got off to a fast start in 2017, popping 20% in February on the heels of a strong fourth-quarter earnings report that revealed a 53% year-over-year revenue leap to 12.099 billion Chinese renminbi (RMB), or roughly $1.74 billion. Adjusted net income rose an even more impressive 68%, to $4.30 per diluted American depositary share (ADS), prompting NetEase's board of directors to approve a nearly 30% increase in its quarterly dividend.
Source: Fool.com
Netease Inc. ADR Stock
€95.00
-2.600%
With 11 Buy predictions and not the single Sell prediction the community is currently very high on Netease Inc. ADR.
With a target price of 119 € there is a positive potential of 25.26% for Netease Inc. ADR compared to the current price of 95.0 €.
