According to Zacks, “JOYY Inc. provides a social media platform. JOYY Inc., formerly known as YY Inc., is based in GUANGZHOU, China. “
YY has been the subject of a number of other research reports. Nomura reiterated a “buy” rating and set a $148.00 price objective on shares of JOYY in a report on Friday, June 18th. National Securities reaffirmed a “buy” rating and issued a $132.00 price objective on shares of JOYY in a research report on Friday, June 18th. Morgan Stanley dropped their target price on shares of JOYY from $141.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 16th. Credit Suisse Group restated an “outperform” rating and set a $129.00 price objective on shares of JOYY in a research note on Friday, June 18th. Finally, TheStreet cut shares of JOYY from a “b-” rating to a “c” rating in a research note on Friday, June 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $130.80.
Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in shares of JOYY by 39.7% during the 4th quarter. Morgan Stanley now owns 4,875,430 shares of the information services provider’s stock valued at $389,937,000 after acquiring an additional 1,385,187 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in JOYY by 89.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,517,495 shares of the information services provider’s stock valued at $235,965,000 after buying an additional 1,191,380 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of JOYY by 118.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,603,338 shares of the information services provider’s stock valued at $128,235,000 after purchasing an additional 869,528 shares during the last quarter. Norges Bank purchased a new stake in shares of JOYY during the fourth quarter valued at $54,506,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of JOYY during the first quarter valued at $45,758,000. 60.65% of the stock is currently owned by hedge funds and other institutional investors.
JOYY Inc, through its subsidiaries, operates a social media platform in the People's Republic of China and internationally. The company operates live streaming platforms, including YY Live, an interactive and comprehensive live streaming social media platform offering music and dance shows, talk shows, outdoor activities, and sports and anime; Bigo Live, which enables users to live stream their specific moments and talk live with each other; and Huya, a game live streaming platform.
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