JOYY (NASDAQ:JOYY) Upgraded by Zacks Research to “Hold” Rating

JOYY (NASDAQ:JOYY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also issued reports on JOYY. Weiss Ratings reissued a “hold (c-)” rating on shares of JOYY in a research note on Thursday, January 22nd. UBS Group initiated coverage on JOYY in a report on Wednesday, March 11th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Citigroup increased their price objective on JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, JOYY presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.67.

JOYY Stock Down 1.4%

Shares of JOYY stock opened at $58.23 on Monday. JOYY has a 52 week low of $41.77 and a 52 week high of $70.96. The business’s fifty day simple moving average is $59.62 and its 200-day simple moving average is $62.23. The firm has a market cap of $2.91 billion, a PE ratio of 1.49 and a beta of 0.42.

JOYY (NASDAQ:JOYY) last announced its quarterly earnings results on Saturday, February 14th. The company reported $1.34 EPS for the quarter. JOYY had a return on equity of 3.93% and a net margin of 98.79%.The business had revenue of $581.92 million for the quarter. As a group, equities analysts expect that JOYY will post 4.79 earnings per share for the current year.

Institutional Trading of JOYY

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY in the 3rd quarter valued at approximately $27,000. Sittner & Nelson LLC purchased a new position in JOYY during the third quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in JOYY during the third quarter worth $87,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in JOYY during the third quarter worth $142,000. Finally, DGS Capital Management LLC acquired a new stake in shares of JOYY during the fourth quarter worth $232,000. 36.83% of the stock is owned by institutional investors and hedge funds.

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.