JOYY (NASDAQ:JOYY) Downgraded to “Hold” Rating by Zacks Research

JOYY (NASDAQ:JOYY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of JOYY in a report on Thursday, January 22nd. Morgan Stanley set a $66.00 target price on shares of JOYY in a research note on Monday, November 24th. Citigroup lifted their price target on shares of JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen cut JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.00.

JOYY Stock Down 0.2%

JOYY stock opened at $61.05 on Monday. JOYY has a 12-month low of $37.53 and a 12-month high of $70.96. The business has a 50-day moving average price of $65.59. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 1.89 and a beta of 0.39.

Institutional Trading of JOYY

Several large investors have recently bought and sold shares of JOYY. Stonehill Capital Management LLC purchased a new stake in shares of JOYY in the 3rd quarter valued at $80,885,000. Public Employees Retirement System of Ohio acquired a new position in JOYY during the third quarter valued at $9,204,000. New York State Common Retirement Fund boosted its holdings in JOYY by 8.8% in the fourth quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock valued at $8,973,000 after purchasing an additional 11,200 shares during the last quarter. SG Americas Securities LLC boosted its holdings in JOYY by 1,336.8% in the fourth quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock valued at $4,858,000 after purchasing an additional 69,794 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in JOYY during the 3rd quarter worth about $1,189,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.