JOYY (NASDAQ:JOYY) Cut to Hold at Zacks Research

Zacks Research lowered shares of JOYY (NASDAQ:JOYY) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on JOYY. Citigroup lifted their price target on shares of JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Wall Street Zen lowered shares of JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Morgan Stanley set a $66.00 price target on JOYY in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JOYY in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, JOYY has a consensus rating of “Hold” and a consensus target price of $72.00.

JOYY Trading Up 1.4%

Shares of NASDAQ JOYY opened at $61.93 on Monday. JOYY has a fifty-two week low of $37.53 and a fifty-two week high of $70.96. The company’s 50 day simple moving average is $65.55. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 1.92 and a beta of 0.39.

Hedge Funds Weigh In On JOYY

Several institutional investors have recently modified their holdings of JOYY. SBI Securities Co. Ltd. bought a new stake in JOYY in the 3rd quarter valued at about $27,000. Sittner & Nelson LLC acquired a new stake in shares of JOYY in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC bought a new stake in shares of JOYY during the third quarter valued at approximately $35,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of JOYY during the third quarter worth approximately $87,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in JOYY in the 3rd quarter worth approximately $142,000. 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.