JOYY (NASDAQ:JOYY) Announces Quarterly Earnings Results

JOYY (NASDAQ:JOYY) announced its quarterly earnings data on Wednesday. The company reported $0.07 earnings per share for the quarter, FiscalAI reports. JOYY had a net margin of 83.18% and a return on equity of 4.67%.

JOYY Stock Up 2.3%

NASDAQ:JOYY opened at $61.19 on Wednesday. The firm’s fifty day simple moving average is $64.50 and its 200-day simple moving average is $62.08. The stock has a market cap of $3.14 billion, a PE ratio of 1.89 and a beta of 0.36. JOYY has a fifty-two week low of $37.53 and a fifty-two week high of $70.96.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on JOYY shares. Citigroup upped their price objective on shares of JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. UBS Group initiated coverage on shares of JOYY in a research note on Wednesday. They set a “buy” rating and a $80.00 price target on the stock. Wall Street Zen cut shares of JOYY from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Morgan Stanley set a $66.00 price objective on shares of JOYY in a research report on Monday, November 24th. Finally, Zacks Research lowered JOYY from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, JOYY currently has a consensus rating of “Moderate Buy” and an average price target of $74.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JOYY. Stonehill Capital Management LLC purchased a new stake in JOYY during the 3rd quarter worth $80,885,000. Public Employees Retirement System of Ohio purchased a new stake in shares of JOYY during the third quarter valued at approximately $9,204,000. SG Americas Securities LLC grew its stake in shares of JOYY by 1,336.8% during the fourth quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock valued at $4,858,000 after acquiring an additional 69,794 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of JOYY in the third quarter worth $1,189,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in JOYY in the third quarter valued at $715,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Company Profile

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.