JOYY (NASDAQ:YY) Lifted to Buy at StockNews.com

JOYY (NASDAQ:YY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Bank of America restated a “neutral” rating and set a $35.00 price objective on shares of JOYY in a report on Monday, March 25th.

JOYY Stock Down 0.1 %

YY opened at $33.77 on Friday. JOYY has a 12-month low of $24.12 and a 12-month high of $43.20. The firm has a market capitalization of $2.09 billion, a P/E ratio of 6.79 and a beta of 0.35. The stock’s 50 day moving average price is $32.32 and its two-hundred day moving average price is $35.04.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. JOYY had a net margin of 13.31% and a return on equity of 5.13%. During the same quarter last year, the company posted $0.49 earnings per share. As a group, analysts anticipate that JOYY will post 3.57 earnings per share for the current year.

Hedge Funds Weigh In On JOYY

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in JOYY by 6.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 5,057 shares of the information services provider’s stock valued at $196,000 after acquiring an additional 325 shares during the period. Quadrant Capital Group LLC grew its stake in shares of JOYY by 8.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock valued at $172,000 after purchasing an additional 349 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of JOYY by 6.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider’s stock valued at $259,000 after purchasing an additional 402 shares during the period. Signaturefd LLC grew its stake in shares of JOYY by 14.7% in the 3rd quarter. Signaturefd LLC now owns 4,020 shares of the information services provider’s stock valued at $153,000 after purchasing an additional 514 shares during the period. Finally, CWM LLC grew its stake in shares of JOYY by 168.0% in the 3rd quarter. CWM LLC now owns 930 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 583 shares during the period. 36.83% of the stock is currently owned by institutional investors.

About JOYY

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.