JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Receives Average Rating of “Moderate Buy” from Analysts

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $83.40.

JOYY has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $87.00 target price on shares of JOYY in a research report on Wednesday, August 26th. Morgan Stanley set a $74.00 price target on shares of JOYY in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Zacks Research raised shares of JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Citigroup restated a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd.

JOYY Stock Performance

NASDAQ:JOYY opened at $75.00 on Friday. The stock’s 50 day moving average price is $72.46 and its 200 day moving average price is $65.27. JOYY has a 52 week low of $54.24 and a 52 week high of $80.90. The company has a market capitalization of $3.67 billion, a P/E ratio of 17.90 and a beta of 0.45.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 8.3%. This is a positive change from JOYY’s previous quarterly dividend of $1.50. JOYY’s payout ratio is currently 147.49%.

Institutional Investors Weigh In On JOYY

A number of large investors have recently added to or reduced their stakes in JOYY. Sittner & Nelson LLC acquired a new position in JOYY during the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of JOYY by 167.7% in the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock worth $36,000 after buying an additional 384 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of JOYY during the 2nd quarter worth $63,000. Nykredit A S bought a new stake in shares of JOYY during the 2nd quarter worth $110,000. Finally, DGS Capital Management LLC acquired a new position in JOYY in the 4th quarter valued at $232,000. Institutional investors own 36.83% of the company’s stock.

About JOYY

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.