According to Zacks, “JOYY Inc. provides a social media platform. JOYY Inc., formerly known as YY Inc., is based in GUANGZHOU, China. “
YY has been the subject of several other reports. Morgan Stanley cut JOYY from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 1st. Benchmark dropped their price target on JOYY from $97.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. JPMorgan Chase & Co. raised JOYY from an “underweight” rating to a “neutral” rating and set a $40.00 price target for the company in a report on Monday, May 16th. Finally, StockNews.com assumed coverage on JOYY in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, JOYY currently has an average rating of “Hold” and an average price target of $86.75.
JOYY (NASDAQ:YY – Get Rating) last released its quarterly earnings data on Tuesday, May 31st. The information services provider reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.68). JOYY had a negative net margin of 2.24% and a positive return on equity of 2.62%. During the same period last year, the firm earned ($0.30) earnings per share. Research analysts anticipate that JOYY will post -0.48 EPS for the current year.
Several institutional investors have recently bought and sold shares of YY. Amundi Pioneer Asset Management Inc. raised its holdings in shares of JOYY by 56.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 194,402 shares of the information services provider’s stock worth $16,332,000 after buying an additional 70,293 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of JOYY by 5.1% during the 3rd quarter. American Century Companies Inc. now owns 9,047 shares of the information services provider’s stock worth $496,000 after buying an additional 443 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of JOYY by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 312,095 shares of the information services provider’s stock worth $17,017,000 after buying an additional 23,061 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of JOYY by 3.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,000 shares of the information services provider’s stock worth $548,000 after buying an additional 300 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in JOYY by 35.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,488 shares of the information services provider’s stock worth $520,000 after purchasing an additional 2,508 shares in the last quarter. 78.48% of the stock is owned by institutional investors.
JOYY Company Profile (Get Rating)
JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a 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 casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..
- Get a free copy of the StockNews.com research report on JOYY (YY)
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