JOYY (NASDAQ:YY) Upgraded at StockNews.com

StockNews.com upgraded shares of JOYY (NASDAQ:YY) from a hold rating to a buy rating in a research report report published on Wednesday.

Separately, Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday.

JOYY Stock Performance

JOYY stock opened at $46.79 on Wednesday. JOYY has a one year low of $27.88 and a one year high of $55.31. The business has a fifty day moving average of $43.91 and a two-hundred day moving average of $38.67. The company has a market cap of $2.52 billion, a P/E ratio of 14.14 and a beta of 0.28.

JOYY (NASDAQ:YY) last released its 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%. Sell-side analysts predict that JOYY will post 3.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Yunqi Capital Ltd increased its position in shares of JOYY by 102.3% in the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock valued at $71,605,000 after buying an additional 865,285 shares in the last quarter. Krane Funds Advisors LLC increased its position in JOYY by 12.0% during the 4th quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider’s stock worth $62,778,000 after purchasing an additional 160,545 shares in the last quarter. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in JOYY during the 4th quarter worth about $57,840,000. Vanguard Group Inc. increased its position in JOYY by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider’s stock worth $47,268,000 after purchasing an additional 13,560 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in JOYY by 1.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider’s stock worth $34,539,000 after purchasing an additional 13,710 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

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.