JOYY (NASDAQ:YY) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of JOYY (NASDAQ:YY) from a hold rating to a buy rating in a research note released on Friday morning.

Separately, Bank of America reissued a neutral rating and issued a $35.00 price objective on shares of JOYY in a report on Monday, March 25th.

JOYY Trading Down 0.1 %

YY stock opened at $33.77 on Friday. The firm has a 50-day moving average of $32.32 and a two-hundred day moving average of $35.00. JOYY has a 12 month low of $24.12 and a 12 month high of $43.20. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 6.79 and a beta of 0.35.

JOYY (NASDAQ:YY) last posted its quarterly earnings results on Monday, March 18th. The information services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $569.84 million during the quarter, compared to analysts’ expectations of $572.51 million. JOYY had a return on equity of 5.13% and a net margin of 13.31%. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, equities analysts forecast that JOYY will post 3.57 earnings per share for the current year.

Institutional Investors Weigh In On JOYY

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its position in shares of JOYY by 6.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 5,057 shares of the information services provider’s stock worth $196,000 after buying an additional 325 shares during the period. Quadrant Capital Group LLC boosted its holdings in JOYY by 8.8% during the 4th quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock valued at $172,000 after acquiring an additional 349 shares during the period. Asset Management One Co. Ltd. grew its position in JOYY by 6.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider’s stock valued at $259,000 after acquiring an additional 402 shares in the last quarter. Signaturefd LLC increased its stake in JOYY by 14.7% during the third quarter. Signaturefd LLC now owns 4,020 shares of the information services provider’s stock worth $153,000 after purchasing an additional 514 shares during the period. Finally, CWM LLC lifted its position in shares of JOYY by 168.0% during the third quarter. CWM LLC now owns 930 shares of the information services provider’s stock worth $35,000 after purchasing an additional 583 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.