Maxim Group initiated coverage on shares of YY (NYSE:YY) in a research report sent to investors on Wednesday morning, TheFlyOnTheWall.com reports. The firm issued a buy rating and a $90.00 price target on the stock.
“We are initiating coverage of YY Inc. (YY) with a Buy rating and a 12-month price target of $90. YY is a leading internet social entertainment company in China that achieved a revenue CAGR of 142% in the past three years to reach total revenues of $301M in 2013, with live online music performances (online music), online games, online advertising, the membership program, and live game broadcasting contributing 47%, 33%, 9%, 8%, and 3%, respectively. “The basis of these businesses is YY’s audio- and video-enabled online communication software, which is known for its superior quality to major competitors’ and its more than 80% timeshare of in-game communication.,” the firm’s analyst wrote.
A number of other analysts have also recently weighed in on YY. Analysts at Credit Suisse initiated coverage on shares of YY in a research note on Thursday, March 13th. They set an outperform rating and a $82.28 price target on the stock. Separately, analysts at Zacks downgraded shares of YY from an outperform rating to a neutral rating in a research note on Tuesday, March 11th. They now have a $91.70 price target on the stock. Finally, analysts at Piper Jaffray raised their price target on shares of YY from $70.00 to $105.00 in a research note on Wednesday, March 5th. They now have an overweight rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. YY presently has an average rating of Buy and a consensus price target of $86.00.
YY (NYSE:YY) traded down 6.62% during mid-day trading on Wednesday, hitting $64.03. 3,276,041 shares of the company’s stock traded hands. YY has a 52 week low of $17.03 and a 52 week high of $90.93. The stock has a 50-day moving average of $75.20 and a 200-day moving average of $61.29. The company has a market cap of $3.549 billion and a P/E ratio of 53.74.
YY (NYSE:YY) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.14. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $83.00 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 136.2% on a year-over-year basis. On average, analysts predict that YY will post $2.33 earnings per share for the current fiscal year.
YY Inc (NYSE:YY) is a communication social platform, which engages users in online group activities through voice, text and video.
To view Maxim Group’s full report, visit Maxim Group’s official website.
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