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

Bank of America reiterated their neutral rating on shares of JOYY (NASDAQ:YY) in a report published on Monday morning, Marketbeat reports. They currently have a $35.00 price objective on the information services provider’s stock.

Several other equities research analysts also recently weighed in on YY. StockNews.com downgraded shares of JOYY from a buy rating to a hold rating in a research note on Monday, March 18th. Benchmark reiterated a hold rating on shares of JOYY in a report on Tuesday, January 2nd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $38.00.

JOYY Stock Performance

JOYY stock opened at $30.75 on Monday. The company’s 50 day simple moving average is $31.72 and its 200-day simple moving average is $36.20. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 6.19 and a beta of 0.39. JOYY has a 1 year low of $24.12 and a 1 year high of $43.20.

JOYY (NASDAQ:YY) last announced its earnings results on Monday, March 18th. The information services provider reported $0.77 earnings per share for the quarter, topping 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 firm had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same period in the prior year, the firm earned $0.49 EPS. Equities analysts expect that JOYY will post 3.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of JOYY by 6.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 5,057 shares of the information services provider’s stock valued at $196,000 after buying an additional 325 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of JOYY by 31.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock valued at $45,000 after buying an additional 343 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of JOYY by 8.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock valued at $172,000 after buying an additional 349 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of JOYY by 6.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider’s stock valued at $259,000 after buying an additional 402 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of JOYY by 5.9% in the 1st quarter. Squarepoint Ops LLC now owns 7,757 shares of the information services provider’s stock valued at $242,000 after buying an additional 431 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

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.