JOYY (NASDAQ:YY) Trading 4.3% Higher

JOYY Inc. (NASDAQ:YY)’s stock price traded up 4.3% on Tuesday . The company traded as high as $34.78 and last traded at $34.62. 174,401 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 549,757 shares. The stock had previously closed at $33.18.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of JOYY in a research report on Monday, March 25th.

JOYY Trading Down 1.3 %

The company has a market capitalization of $2.01 billion, a PE ratio of 6.40 and a beta of 0.25. The business’s 50-day simple moving average is $31.39 and its 200-day simple moving average is $32.21.

JOYY (NASDAQ:YY) last posted its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The company had revenue of $564.56 million during the quarter, compared to analyst estimates of $553.36 million. JOYY had a net margin of 14.19% and a return on equity of 5.47%. During the same period last year, the firm posted $0.57 EPS. Sell-side analysts forecast that JOYY Inc. will post 3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On JOYY

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in JOYY by 4.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,008,508 shares of the information services provider’s stock valued at $40,038,000 after acquiring an additional 45,232 shares during the period. Yunqi Capital Ltd grew its stake in JOYY by 52.8% in the 1st quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock valued at $24,083,000 after acquiring an additional 270,564 shares during the period. Canada Pension Plan Investment Board grew its stake in JOYY by 1,758.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider’s stock valued at $20,428,000 after acquiring an additional 628,573 shares during the period. Polunin Capital Partners Ltd grew its stake in JOYY by 59.3% in the 1st quarter. Polunin Capital Partners Ltd now owns 176,500 shares of the information services provider’s stock valued at $5,427,000 after acquiring an additional 65,700 shares during the period. Finally, E Fund Management Co. Ltd. grew its stake in JOYY by 222.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 127,843 shares of the information services provider’s stock valued at $5,075,000 after acquiring an additional 88,157 shares during the period. 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.