JOYY (NASDAQ:YY) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of JOYY (NASDAQ:YYFree Report) from a hold rating to a buy rating in a report published on Wednesday.

Separately, Benchmark reaffirmed a hold rating on shares of JOYY in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $41.50.

Check Out Our Latest Analysis on YY

JOYY Stock Down 1.6 %

Shares of YY opened at $32.88 on Wednesday. JOYY has a twelve month low of $24.12 and a twelve month high of $43.20. The stock’s 50 day moving average is $35.01 and its two-hundred day moving average is $36.64.

JOYY (NASDAQ:YYGet Free Report) last announced its quarterly earnings data on Wednesday, November 29th. The information services provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. JOYY had a positive return on equity of 4.84% and a negative net margin of 5.28%. The company had revenue of $567.07 million for the quarter, compared to analyst estimates of $563.68 million. As a group, analysts anticipate that JOYY will post 3.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JOYY

Large investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of JOYY by 168.0% during the third quarter. CWM LLC now owns 930 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 583 shares during the period. Blue Trust Inc. increased its stake in shares of JOYY by 221.8% during the fourth quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 650 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of JOYY by 31.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 343 shares during the period. Assetmark Inc. boosted its holdings in JOYY by 62.2% during the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock worth $85,000 after buying an additional 854 shares in the last quarter. Finally, Meitav Investment House Ltd. bought a new stake in JOYY during the second quarter worth approximately $77,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Company Profile

(Get Free Report)

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.

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Analyst Recommendations for JOYY (NASDAQ:YY)

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