JOYY (NASDAQ:YY) Price Target Increased to $35.00 by Analysts at JPMorgan Chase & Co.

JOYY (NASDAQ:YY) had its price target boosted by JPMorgan Chase & Co. from $30.00 to $35.00 in a research note released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the information services provider’s stock.

Several other brokerages have also weighed in on YY. StockNews.com lowered JOYY from a buy rating to a hold rating in a research report on Saturday, May 11th. Benchmark reissued a hold rating on shares of JOYY in a research report on Thursday, August 29th.

JOYY Price Performance

YY stock opened at $34.32 on Tuesday. The firm has a market capitalization of $2.04 billion, a P/E ratio of 6.46 and a beta of 0.25. The business’s 50-day moving average is $33.60 and its two-hundred day moving average is $32.47. JOYY has a 1 year low of $27.88 and a 1 year high of $43.20.

Institutional Trading of JOYY

Institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board boosted its position in JOYY by 1,758.1% during the first quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider’s stock worth $20,428,000 after purchasing an additional 628,573 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of JOYY by 22.3% in the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock worth $90,952,000 after acquiring an additional 552,082 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of JOYY by 356.3% in the second quarter. Jupiter Asset Management Ltd. now owns 480,000 shares of the information services provider’s stock worth $14,443,000 after acquiring an additional 374,800 shares during the last quarter. Yunqi Capital Ltd raised its holdings in shares of JOYY by 52.8% in the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock worth $24,083,000 after acquiring an additional 270,564 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of JOYY by 780.9% in the second quarter. LSV Asset Management now owns 232,552 shares of the information services provider’s stock worth $6,997,000 after acquiring an additional 206,152 shares during the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.