JOYY (NASDAQ:YY) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of JOYY (NASDAQ:YYGet Rating) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “JOYY Inc. provides a social media platform. JOYY Inc., formerly known as YY Inc., is based in GUANGZHOU, China. “

A number of other brokerages have also recently issued reports on YY. Benchmark lowered their price target on shares of JOYY from $97.00 to $62.00 and set a buy rating for the company in a research report on Wednesday, March 16th. JPMorgan Chase & Co. raised shares of JOYY from an underweight rating to a neutral rating and set a $40.00 price target for the company in a research report on Monday, May 16th. Finally, StockNews.com assumed coverage on shares of JOYY in a research report on Thursday, March 31st. They set a hold rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $86.75.

Shares of YY opened at $40.74 on Thursday. The firm’s 50-day moving average price is $39.08 and its 200-day moving average price is $45.12. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -34.24 and a beta of 0.58. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. JOYY has a 1-year low of $23.14 and a 1-year high of $88.50.

JOYY (NASDAQ:YYGet Rating) last announced its earnings results on Tuesday, March 15th. The information services provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $1.25. JOYY had a negative net margin of 3.15% and a positive return on equity of 2.03%. The firm had revenue of $663.71 million for the quarter, compared to analyst estimates of $652.42 million. During the same quarter in the previous year, the firm posted ($0.29) EPS. On average, research analysts forecast that JOYY will post 1.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, April 14th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Wednesday, April 13th. JOYY’s payout ratio is -170.59%.

Several institutional investors have recently bought and sold shares of YY. JJJ Advisors Inc. boosted its stake in shares of JOYY by 370.3% in the 4th quarter. JJJ Advisors Inc. now owns 729 shares of the information services provider’s stock worth $33,000 after buying an additional 574 shares during the last quarter. IndexIQ Advisors LLC purchased a new position in shares of JOYY in the 4th quarter worth $36,000. Tobam purchased a new position in shares of JOYY in the 3rd quarter worth $64,000. Quadrant Capital Group LLC boosted its stake in shares of JOYY by 28.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,436 shares of the information services provider’s stock worth $65,000 after buying an additional 315 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of JOYY by 41.4% in the 1st quarter. Signaturefd LLC now owns 2,601 shares of the information services provider’s stock worth $96,000 after buying an additional 762 shares during the last quarter. 78.48% of the stock is owned by institutional investors and hedge funds.

JOYY Company Profile (Get Rating)

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a 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 casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

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