YY Inc (NASDAQ:YY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday. The firm presently has a $61.00 price objective on the information services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 19.05% from the stock’s previous close.

According to Zacks, “YY Inc. is a communication social platform, which engages users in online group activities through voice, text and video. The Company’s Platform consists of YY Client, the YY.com and Duowan.com web portals, Mobile YY and Web-based YY. YY Inc. is based in Guangzhou, the People’s Republic of China. “

A number of other analysts also recently weighed in on YY. Vetr downgraded shares of YY from a “strong-buy” rating to a “buy” rating and set a $57.51 price target for the company. in a report on Monday, May 8th. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 target price (up previously from $46.00) on shares of YY in a research report on Sunday, May 14th. Nomura reiterated a “hold” rating and set a $54.00 target price on shares of YY in a research report on Friday, May 12th. Instinet assumed coverage on shares of YY in a research report on Monday, February 13th. They set a “neutral” rating and a $47.00 target price for the company. Finally, BOCOM International Holdings assumed coverage on shares of YY in a research report on Monday, May 8th. They set a “buy” rating and a $64.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. YY presently has an average rating of “Buy” and an average price target of $57.83.

Analyst Recommendations for YY (NASDAQ:YY)

YY (NASDAQ:YY) traded up 4.00% during trading on Friday, hitting $53.29. 658,750 shares of the company traded hands. YY has a one year low of $31.07 and a one year high of $57.22. The firm has a 50 day moving average of $48.71 and a 200 day moving average of $45.27. The firm has a market cap of $2.97 billion, a P/E ratio of 11.68 and a beta of 1.11.

YY (NASDAQ:YY) last issued its quarterly earnings results on Tuesday, March 14th. The information services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.44. YY had a net margin of 17.18% and a return on equity of 33.65%. The firm had revenue of $357.79 million during the quarter, compared to the consensus estimate of $354.96 million. On average, analysts expect that YY will post $4.96 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/05/19/yy-inc-yy-rating-increased-to-strong-buy-at-zacks-investment-research.html.

Several large investors have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in shares of YY during the third quarter valued at approximately $4,837,000. Symmetry Peak Management LLC acquired a new stake in shares of YY during the third quarter valued at approximately $266,000. Moore Capital Management LP acquired a new stake in shares of YY during the third quarter valued at approximately $9,324,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of YY during the third quarter valued at approximately $799,000. Finally, HighTower Advisors LLC acquired a new stake in shares of YY during the third quarter valued at approximately $1,119,000. Institutional investors own 44.44% of the company’s stock.

YY Company Profile

YY Inc (YY) is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company’s segments include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning.

5 Day Chart for NASDAQ:YY

Get a free copy of the Zacks research report on YY (YY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for YY Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YY Inc and related companies with MarketBeat.com's FREE daily email newsletter.