JOYY (NASDAQ:JOYY) Hits New 1-Year High – Still a Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $68.34 and last traded at $66.83, with a volume of 43017 shares traded. The stock had previously closed at $66.11.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of JOYY from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Morgan Stanley set a $66.00 price objective on JOYY in a research note on Monday, November 24th. Wall Street Zen cut shares of JOYY from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research upgraded shares of JOYY from a “hold” rating to a “strong-buy” rating in a report on Friday, December 12th. Finally, Citigroup raised their target price on JOYY from $59.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $68.00.

JOYY Price Performance

The stock’s 50 day simple moving average is $62.85. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 2.16 and a beta of 0.36.

JOYY Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, January 13th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from JOYY’s previous dividend of $0.95. JOYY’s payout ratio is 11.94%.

Hedge Funds Weigh In On JOYY

Several institutional investors have recently modified their holdings of JOYY. Stonehill Capital Management LLC purchased a new position in JOYY in the third quarter worth $80,885,000. Public Employees Retirement System of Ohio purchased a new position in shares of JOYY in the 3rd quarter worth about $9,204,000. Ameriprise Financial Inc. purchased a new position in shares of JOYY in the 3rd quarter worth about $442,000. Sittner & Nelson LLC bought a new position in JOYY during the third quarter valued at about $29,000. Finally, Handelsbanken Fonder AB purchased a new stake in JOYY during the third quarter worth about $451,000. 36.83% of the stock is owned by institutional investors.

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.