JPMorgan Chase & Co. Initiates Coverage on YY (YY)
Research analysts at JPMorgan Chase & Co. assumed coverage on shares of YY (NYSE:YY) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
The analysts wrote, “We initiate coverage of YY Inc with an Overweight rating and a Jun-14 PT of USD47. YY offers a rich-media platform which allows large-scale communications in real time. YY currently generates revenue primarily from game operations, live music shows and membership services. Expansion of monetization into other activities, such as education, should increase the payment ratio and drive revenue growth over the next few years.”
YY (NYSE:YY) traded up 2.57% on Friday, hitting $40.73. The stock had a trading volume of 207,738 shares. YY has a 1-year low of $10.50 and a 1-year high of $48.00. The stock has a 50-day moving average of $39.20 and a 200-day moving average of $25.81. The company has a market cap of $2.221 billion and a price-to-earnings ratio of 46.94.
YY (NYSE:YY) last released its earnings data on Thursday, August 1st. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.14. The company had revenue of $66.60 million for the quarter, compared to the consensus estimate of $56.63 million. Analysts expect that YY will post $1.14 EPS for the current fiscal year.
YY has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus initiated coverage on shares of YY in a research note to investors on Monday, August 12th. They set a “hold” rating on the stock. Separately, analysts at Zacks downgraded shares of YY to a “neutral” rating in a research note to investors on Tuesday, August 6th. They now have a $46.50 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of YY from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 2nd. They now have a $46.00 price target on the stock, up previously from $30.00.
Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. YY has an average rating of “Buy” and a consensus target price of $34.98.
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