JOYY (NASDAQ:YY) Upgraded by Benchmark to Buy Rating

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

JOYY Trading Up 4.0 %

Shares of JOYY stock opened at $52.08 on Tuesday. The stock has a 50 day moving average of $43.08 and a 200 day moving average of $38.33. JOYY has a 12 month low of $27.88 and a 12 month high of $55.31. The firm has a market cap of $2.80 billion, a PE ratio of 15.73 and a beta of 0.28.

JOYY (NASDAQ:YY) last announced its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that JOYY will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JOYY

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new stake in shares of JOYY in the 3rd quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of JOYY in the 4th quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its stake in shares of 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 purchasing an additional 447 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 510 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of JOYY in the 4th quarter valued at approximately $85,000. 36.83% of the stock is owned by institutional investors.

JOYY Company Profile

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.