Of the 26 analysts covering the stock, 85% recommend a buy and 15% suggest a hold. The stock's average 12-month price target is $58.80, or 24.7% higher than the current price, according to a Bloomberg consensus.
For the third quarter of 2011, Netease reported total net revenue of $306.9 million, up 46.6% from $209.3 million in the same quarter last year. Net income attributable to shareholders grew 48.05% to $129.4 million, or 99 cents per share, from $87.4 million, or 67 cents, for the same period a year ago. The company generated 88% of its revenue through online games, both in-house titles and licenses of popular Western games.As of Sept. 30, registered Netease email users grew 4.9% to 430 million, while micro-bloggers surged 68.6% to 88.5 million, from the second quarter. On Dec. 1, Netease announced that its board of directors has agreed to a new stock repurchase program of $50 million American Depositary Shares within three months. NTES recently launched a free iPhone client for television programming listings to enable users to check weekly listings for more than 500 channels. NTES plans to separate its shopping search-engine domain Gouwu.youdao.com for independent operation, Senior Vice President Zhou Feng told Reuters in a recent interview, without disclosing other details.
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