YY Coverage Initiated at Maxim Group (YY)

Share on StockTwits

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.

The Fly On The Wall

Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.

Latest News

Hasbro Sees Sales Spike, But Profit Not Lifted
Hasbro Sees Sales Spike, But Profit Not Lifted
June Unemployment Rates Dropped in Nearly Half the States
June Unemployment Rates Dropped in Nearly Half the States
PayPal Helps Fuel More Revenue at eBay
PayPal Helps Fuel More Revenue at eBay
New Streaming Video Service from Lionsgate in China
New Streaming Video Service from Lionsgate in China
Brain Eating Amoeba Infection Kills Girl
Brain Eating Amoeba Infection Kills Girl
Antibiotics Listed as Last Resort Now in Jeopardy
Antibiotics Listed as Last Resort Now in Jeopardy


Leave a Reply

 
© 2006-2014 Zolmax.