JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Stock Has Consensus Price Target of $83.40 According to Brokerages

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $83.40.

Several research firms recently weighed in on JOYY. Citigroup restated a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Weiss Ratings raised shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Jefferies Financial Group reiterated a “buy” rating and set a $87.00 price objective on shares of JOYY in a research report on Wednesday, August 26th. JPMorgan Chase & Co. raised shares of JOYY from a “neutral” rating to an “overweight” rating and increased their target price for the company from $35.00 to $98.00 in a research note on Wednesday, August 12th. Finally, Morgan Stanley set a $74.00 target price on shares of JOYY in a report on Wednesday, August 26th.

Institutional Trading of JOYY

Several institutional investors have recently added to or reduced their stakes in JOYY. SG Americas Securities LLC lifted its stake in shares of JOYY by 49.9% during the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company’s stock worth $6,567,000 after acquiring an additional 37,451 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in JOYY during the 4th quarter valued at $392,000. Handelsbanken Fonder AB grew its position in JOYY by 67.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company’s stock valued at $851,000 after acquiring an additional 5,200 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in JOYY in the 1st quarter valued at $281,000. Finally, DGS Capital Management LLC purchased a new stake in JOYY in the fourth quarter worth $232,000. Institutional investors own 36.83% of the company’s stock.

JOYY Price Performance

NASDAQ:JOYY opened at $80.50 on Thursday. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 19.21 and a beta of 0.38. The business has a 50 day simple moving average of $75.98 and a 200-day simple moving average of $67.88. JOYY has a 1 year low of $54.24 and a 1 year high of $81.25.

JOYY Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 7.7%. The ex-dividend date is Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. JOYY’s payout ratio is currently 147.49%.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates social media, live-streaming and digital entertainment platforms. The company’s services enable users to create and share content, communicate in real time, and participate in online communities through video, audio and messaging formats.

JOYY’s portfolio has included BIGO Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant messaging and communications service.