YY (NYSE:YY) was downgraded by stock analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $46.00 price objective on the stock, up from their previous price objective of $30.00. Deutsche Bank’s price objective points to a potential upside of 9.94% from the company’s current price.
The analysts wrote, “YY’s solid execution and innovative business model have paid off, evidenced by a rapidly expanding paying user base and significant monetization improvements. While the market seems to have expressed increasing confidence in the business, we believe the recent stock rally has largely reflected this revamped view in the risk/reward profile of the co; YY now trades at 38x our revised FY13E non-GAAP EPS.”
Separately, analysts at Piper Jaffray Cos. upgraded shares of YY from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, July 9th. They now have a $40.00 price target on the stock, up previously from $20.00.
Shares of YY (NYSE:YY) traded up 6.72% during mid-day trading on Friday, hitting $44.651. YY has a 52 week low of $10.50 and a 52 week high of $44.09. The stock’s 50-day moving average is currently $32.. The company has a market cap of $2.427 billion and a P/E ratio of 69.39.
YY (NYSE:YY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.14. The company had revenue of $66.60 million for the quarter, compared to the consensus estimate of $56.63 million. Analysts expect that YY will post $0.93 EPS for the current fiscal year.
