JOYY (NASDAQ:JOYY) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of JOYY (NASDAQ:JOYY) in a report released on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $80.00 price target on the stock.

Several other equities research analysts have also commented on JOYY. Zacks Research lowered shares of JOYY from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Morgan Stanley set a $66.00 target price on JOYY in a report on Monday, November 24th. Citigroup raised their price target on JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of JOYY in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, JOYY has an average rating of “Moderate Buy” and a consensus target price of $74.67.

JOYY Stock Performance

Shares of JOYY stock opened at $61.15 on Wednesday. JOYY has a 1 year low of $37.53 and a 1 year high of $70.96. The company’s fifty day moving average is $64.43 and its two-hundred day moving average is $62.07. The company has a market capitalization of $3.14 billion, a P/E ratio of 1.57 and a beta of 0.36.

Hedge Funds Weigh In On JOYY

A number of institutional investors have recently made changes to their positions in JOYY. SBI Securities Co. Ltd. purchased a new stake in shares of JOYY in the third quarter valued at $27,000. Sittner & Nelson LLC purchased a new stake in JOYY during the 3rd quarter worth about $29,000. Farther Finance Advisors LLC acquired a new position in JOYY in the 3rd quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in JOYY in the 3rd quarter valued at about $87,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in JOYY in the 3rd quarter valued at about $142,000. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Company Profile

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.