JOYY (NASDAQ:YY) Raised to “Buy” at Benchmark

Benchmark upgraded shares of JOYY (NASDAQ:YY) from a hold rating to a buy rating in a research note published on Tuesday morning, MarketBeat Ratings reports.

JOYY Stock Performance

Shares of NASDAQ:YY opened at $47.15 on Tuesday. The business’s fifty day moving average price is $43.79 and its two-hundred day moving average price is $38.59. The stock has a market cap of $2.54 billion, a PE ratio of 14.24 and a beta of 0.28. JOYY has a one year low of $27.88 and a one year high of $55.31.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. As a group, equities research analysts predict that JOYY will post 3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JOYY

Several hedge funds have recently modified their holdings of YY. Loomis Sayles & Co. L P acquired a new position in shares of JOYY in the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in JOYY in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC raised its holdings in JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 447 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of JOYY by 63.0% during the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after purchasing an additional 510 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of JOYY during the fourth quarter worth $85,000. 36.83% of the stock is owned by institutional investors and hedge funds.

About JOYY

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.