JOYY (NASDAQ:YY) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of JOYY (NASDAQ:YY) from a hold rating to a buy rating in a report issued on Wednesday.

Separately, Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday.

JOYY Price Performance

Shares of YY stock opened at $49.00 on Wednesday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.80 and a beta of 0.28. The company’s fifty day simple moving average is $43.58 and its two-hundred day simple moving average is $38.53. JOYY has a 1 year low of $27.88 and a 1 year high of $55.31.

JOYY (NASDAQ:YY) last released its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. Equities research analysts anticipate that JOYY will post 3.37 EPS for the current year.

Hedge Funds Weigh In On JOYY

A number of institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of JOYY by 45.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock valued at $3,615,000 after acquiring an additional 31,341 shares during the last quarter. Cape Ann Asset Management Ltd lifted its position in JOYY by 47.8% during the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after purchasing an additional 154,200 shares during the last quarter. FMR LLC grew its stake in JOYY by 4.3% in the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after buying an additional 28,126 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of JOYY in the 3rd quarter worth $725,000. Finally, Ritholtz Wealth Management raised its position in shares of JOYY by 69.1% during the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock valued at $1,550,000 after buying an additional 15,127 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.