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

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $83.40.

A number of analysts have commented on JOYY shares. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $98.00 in a research report on Wednesday, August 12th. Citigroup restated a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Morgan Stanley set a $74.00 price target on shares of JOYY in a report on Wednesday, August 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $87.00 price target on shares of JOYY in a research report on Wednesday, August 26th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JOYY. Crossmark Global Holdings Inc. purchased a new stake in JOYY in the 3rd quarter worth $15,906,000. SG Americas Securities LLC lifted its position in shares of JOYY by 49.9% in the first quarter. SG Americas Securities LLC now owns 112,466 shares of the company’s stock valued at $6,567,000 after acquiring an additional 37,451 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of JOYY by 67.5% in the second 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 in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of JOYY in the second quarter worth about $65,000. Finally, Vest Financial LLC boosted its stake in shares of JOYY by 21.9% in the third quarter. Vest Financial LLC now owns 30,965 shares of the company’s stock worth $2,485,000 after acquiring an additional 5,555 shares during the period. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Performance

NASDAQ JOYY opened at $83.35 on Monday. The company has a market capitalization of $4.08 billion, a PE ratio of 19.89 and a beta of 0.38. The business’s fifty day moving average is $78.40 and its 200 day moving average is $70.27. JOYY has a fifty-two week low of $54.24 and a fifty-two week high of $85.15.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. JOYY’s payout ratio is 147.49%.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates video-based social media and live-streaming platforms. The company’s services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.

JOYY’s principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.