YY Inc. (YY) Price Target Increased to $101.00 by Analysts at Bank of America Corporation
YY Inc. (NASDAQ:YY) had its price objective increased by Bank of America Corporation from $89.00 to $101.00 in a report published on Monday. The firm currently has a buy rating on the information services provider’s stock.
A number of other research analysts have also recently weighed in on YY. Vetr cut shares of YY from a buy rating to a hold rating and set a $82.17 price objective for the company. in a report on Monday, September 25th. BidaskClub raised shares of YY from a buy rating to a strong-buy rating in a research note on Saturday, September 9th. Deutsche Bank AG reissued a buy rating and set a $100.00 target price (up from $69.00) on shares of YY in a research note on Friday, August 11th. HSBC Holdings plc restated a buy rating and set a $89.00 target price (up from $65.00) on shares of YY in a research report on Friday, August 11th. Finally, Citigroup Inc. raised their target price on YY to $100.00 and gave the company a buy rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $74.25.
Shares of YY (NASDAQ YY) opened at 90.13 on Monday. YY has a 12-month low of $37.81 and a 12-month high of $90.66.
YY (NASDAQ:YY) last posted its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.19. YY had a net margin of 22.08% and a return on equity of 39.07%. The firm had revenue of $384.85 million during the quarter, compared to analysts’ expectations of $366.35 million. During the same period in the previous year, the business posted $0.90 EPS. The business’s revenue was up 28.9% compared to the same quarter last year. On average, analysts predict that YY will post $6.15 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Preferred LLC acquired a new position in YY in the 2nd quarter valued at $145,000. D.A. Davidson & CO. lifted its holdings in YY by 17.4% in the 2nd 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in YY by 7.5% in the 2nd 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 in the last quarter. Profund Advisors LLC purchased a new position in YY in the 2nd quarter valued at $240,000. Finally, Voya Investment Management LLC purchased a new position in YY in the 2nd quarter valued at $268,000. Hedge funds and other institutional investors own 55.03% of the company’s stock.
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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