JOYY (NASDAQ:YY) Price Target Lowered to $42.00 at CLSA

JOYY (NASDAQ:YY – Get Rating) had its target price lowered by investment analysts at CLSA from $48.00 to $42.00 in a report released on Friday, The Fly reports. The brokerage presently has a “buy” rating on the information services provider’s stock. CLSA’s target price suggests a potential upside of 45.68% from the company’s current price.

Other analysts have also recently issued reports about the company. Citigroup dropped their target price on JOYY from $46.00 to $45.00 and set a “buy” rating for the company in a report on Monday, February 13th. TheStreet upgraded JOYY from a “d+” rating to a “c” rating in a report on Friday, December 9th. Finally, StockNews.com initiated coverage on JOYY in a report on Thursday. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.00.

JOYY Stock Up 3.0 %

Shares of YY opened at $28.83 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.52 and a current ratio of 1.52. JOYY has a one year low of $21.38 and a one year high of $47.23. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 40.04 and a beta of 0.54. The stock has a 50 day moving average price of $34.17 and a 200 day moving average price of $30.84.

Hedge Funds Weigh In On JOYY

A number of hedge funds have recently modified their holdings of YY. E Fund Management Hong Kong Co. Ltd. lifted its stake in JOYY by 135.9% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 32,517 shares of the information services provider’s stock worth $1,264,000 after acquiring an additional 18,731 shares in the last quarter. American Century Companies Inc. lifted its stake in JOYY by 11.4% during the 1st quarter. American Century Companies Inc. now owns 10,078 shares of the information services provider’s stock worth $370,000 after acquiring an additional 1,031 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in JOYY by 34.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,302 shares of the information services provider’s stock worth $452,000 after acquiring an additional 3,164 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in JOYY by 10.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 54,734 shares of the information services provider’s stock worth $2,087,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in JOYY by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 2,022,640 shares of the information services provider’s stock worth $74,292,000 after acquiring an additional 81,581 shares in the last quarter. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Company Profile

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JOYY, Inc engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising. It operates through following segments: Live Streaming, Online Games, Membership and Others.