JOYY (NASDAQ:YY) Stock Rating Reaffirmed by Bank of America

Bank of America reaffirmed their neutral rating on shares of JOYY (NASDAQ:YY) in a research report released on Monday, MarketBeat reports. They currently have a $35.00 target price on the information services provider’s stock.

YY has been the topic of a number of other reports. Benchmark restated a hold rating on shares of JOYY in a research note on Tuesday, January 2nd. StockNews.com cut shares of JOYY from a buy rating to a hold rating in a research note on Monday, March 18th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $38.00.

JOYY Price Performance

JOYY stock opened at $30.75 on Monday. The company has a market cap of $1.91 billion, a PE ratio of 6.19 and a beta of 0.39. The company has a fifty day moving average price of $31.72 and a two-hundred day moving average price of $36.20. JOYY has a 12 month low of $24.12 and a 12 month high of $43.20.

JOYY (NASDAQ:YY) last announced its quarterly earnings results on Monday, March 18th. The information services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. JOYY had a net margin of 13.31% and a return on equity of 5.13%. The company had revenue of $569.84 million during the quarter, compared to the consensus estimate of $572.51 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Equities research analysts anticipate that JOYY will post 3.57 earnings per share for the current year.

Institutional Investors Weigh In On JOYY

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in JOYY by 168.0% in the third quarter. CWM LLC now owns 930 shares of the information services provider’s stock worth $35,000 after acquiring an additional 583 shares in the last quarter. Blue Trust Inc. raised its position in JOYY by 221.8% in the fourth quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock worth $36,000 after acquiring an additional 650 shares in the last quarter. PNC Financial Services Group Inc. raised its position in JOYY by 31.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after acquiring an additional 343 shares in the last quarter. Point72 Europe London LLP bought a new stake in JOYY in the fourth quarter worth about $83,000. Finally, Assetmark Inc. raised its holdings in JOYY by 62.2% during the 3rd quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock worth $85,000 after buying an additional 854 shares during the period. 36.83% of the stock is currently owned by institutional investors.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.