YY Inc. (YY) Lifted to Strong-Buy at BidaskClub
BidaskClub upgraded shares of YY Inc. (NASDAQ:YY) from a buy rating to a strong-buy rating in a research report released on Saturday morning.
Other equities analysts have also recently issued reports about the company. Bank of America Corporation restated a buy rating and issued a $66.00 target price on shares of YY in a report on Tuesday, July 4th. Deutsche Bank AG restated a buy rating and issued a $100.00 target price (up from $69.00) on shares of YY in a report on Friday, August 11th. HSBC Holdings plc restated a buy rating and issued a $89.00 target price (up from $65.00) on shares of YY in a report on Friday, August 11th. Citigroup Inc. lifted their target price on YY to $100.00 and gave the stock a buy rating in a report on Friday, August 11th. Finally, ValuEngine cut YY from a strong-buy rating to a buy rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $69.97.
Shares of YY (NASDAQ:YY) opened at 78.39 on Friday. The stock has a market capitalization of $4.39 billion, a P/E ratio of 14.60 and a beta of 1.16. YY has a 12 month low of $37.81 and a 12 month high of $83.00. The stock has a 50 day moving average price of $74.00 and a 200 day moving average price of $57.86.
YY (NASDAQ:YY) last issued its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million for the quarter, compared to analysts’ expectations of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. On average, analysts anticipate that YY will post $6.26 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in YY during the second quarter valued at $145,000. D.A. Davidson & CO. boosted its position in YY by 17.4% during the second quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock valued at $156,000 after purchasing an additional 400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in YY by 7.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,870 shares of the information services provider’s stock valued at $167,000 after purchasing an additional 200 shares during the last quarter. Profund Advisors LLC acquired a new stake in YY during the second quarter valued at $240,000. Finally, Voya Investment Management LLC acquired a new stake in YY during the second quarter valued at $268,000. 54.68% of the stock is owned by hedge funds and other institutional investors.
YY Company Profile
YY Inc (YY) is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company’s segments include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning.
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