JOYY (NASDAQ:JOYY) Upgraded by Zacks Research to “Hold” Rating

JOYY (NASDAQ:JOYY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also weighed in on JOYY. UBS Group initiated coverage on JOYY in a report on Wednesday, March 11th. They set a “buy” rating and a $80.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of JOYY in a research report on Thursday, January 22nd. Finally, Citigroup increased their price target on JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, JOYY has an average rating of “Moderate Buy” and an average target price of $74.67.

JOYY Price Performance

Shares of JOYY opened at $58.23 on Monday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 1.49 and a beta of 0.42. JOYY has a 1 year low of $41.77 and a 1 year high of $70.96. The business’s 50 day simple moving average is $59.62 and its 200-day simple moving average is $62.23.

JOYY (NASDAQ:JOYY) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.34 earnings per share (EPS) for the quarter. The business had revenue of $581.92 million for the quarter. JOYY had a return on equity of 3.93% and a net margin of 98.79%. On average, sell-side analysts expect that JOYY will post 4.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Stonehill Capital Management LLC acquired a new position in JOYY in the 3rd quarter worth approximately $80,885,000. Public Employees Retirement System of Ohio purchased a new stake in shares of JOYY in the third quarter valued at approximately $9,204,000. New York State Common Retirement Fund increased its position in shares of JOYY by 8.8% in the fourth quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock valued at $8,973,000 after buying an additional 11,200 shares in the last quarter. SG Americas Securities LLC increased its position in shares of JOYY by 49.9% in the first quarter. SG Americas Securities LLC now owns 112,466 shares of the company’s stock valued at $6,567,000 after buying an additional 37,451 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of JOYY in the third quarter valued at approximately $1,189,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

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.