JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Receives $80.50 Average Price Target from Analysts

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $80.50.

Several equities research analysts recently commented on JOYY shares. Citigroup reissued a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $98.00 in a research report on Wednesday, August 12th.

JOYY Trading Up 0.2%

Shares of NASDAQ:JOYY opened at $73.74 on Wednesday. The company has a 50 day moving average of $70.52 and a 200-day moving average of $64.29. The firm has a market cap of $3.69 billion, a P/E ratio of 17.11 and a beta of 0.47. JOYY has a twelve month low of $48.53 and a twelve month high of $76.68.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were paid a dividend of $1.50 per share. This is an increase from JOYY’s previous quarterly dividend of $1.38. This represents a $6.00 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Monday, June 29th. JOYY’s dividend payout ratio (DPR) is 138.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JOYY. Sittner & Nelson LLC acquired a new stake in JOYY in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its stake in shares of JOYY by 167.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock worth $36,000 after purchasing an additional 384 shares during the last quarter. Ramsey Quantitative Systems acquired a new position in shares of JOYY in the 2nd quarter worth approximately $63,000. DGS Capital Management LLC bought a new stake in shares of JOYY in the 4th quarter worth approximately $232,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of JOYY in the 1st quarter worth approximately $281,000. 36.83% of the stock is owned by institutional investors and hedge funds.

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.