JOYY (NASDAQ:YY) Stock Rating Upgraded by Benchmark

JOYY (NASDAQ:YY) was upgraded by equities research analysts at Benchmark from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports.

JOYY Price Performance

NASDAQ YY opened at $49.00 on Tuesday. The firm’s fifty day moving average price is $43.58 and its 200 day moving average price is $38.53. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.80 and a beta of 0.28. JOYY has a 12 month low of $27.88 and a 12 month high of $55.31.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. As a group, sell-side analysts forecast that JOYY will post 3.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of JOYY by 45.8% in the third 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 in the last quarter. Cape Ann Asset Management Ltd boosted its holdings in shares of JOYY by 47.8% in 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 acquiring an additional 154,200 shares in the last quarter. FMR LLC boosted its holdings in shares of JOYY by 4.3% in the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock valued at $24,591,000 after acquiring an additional 28,126 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of JOYY in the third quarter valued at about $725,000. Finally, Ritholtz Wealth Management boosted its holdings in shares of JOYY by 69.1% in the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock valued at $1,550,000 after acquiring an additional 15,127 shares in the last quarter. 36.83% of the stock is owned by hedge funds and other 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.