YY Inc. (NASDAQ:YY) Given New $100.00 Price Target at Citigroup Inc.
YY Inc. (NASDAQ:YY) had its price target boosted by analysts at Citigroup Inc. to $100.00 in a report released on Friday, The Fly reports. The firm currently has a “buy” rating on the information services provider’s stock. Citigroup Inc.’s target price points to a potential upside of 26.71% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of YY from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 13th. CICC Research downgraded shares of YY to a “hold” rating and set a $60.00 price objective for the company. in a research report on Thursday, May 11th. BidaskClub raised shares of YY from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 20th. ValuEngine downgraded shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co downgraded shares of YY from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $60.00 in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $63.34.
Shares of YY (YY) traded up 1.36% during trading on Friday, reaching $78.92. The company’s stock had a trading volume of 2,348,206 shares. YY has a one year low of $37.81 and a one year high of $83.00.
YY (NASDAQ:YY) last announced its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.19. The business had revenue of $384.85 million during the quarter, compared to analyst estimates of $366.35 million. YY had a net margin of 22.08% and a return on equity of 41.38%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that YY will post $5.66 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of YY during the fourth quarter valued at $10,009,000. Macquarie Group Ltd. increased its position in shares of YY by 2,042.1% in the fourth quarter. Macquarie Group Ltd. now owns 36,502 shares of the information services provider’s stock valued at $1,439,000 after buying an additional 34,798 shares in the last quarter. Fox Run Management L.L.C. increased its position in shares of YY by 23.0% in the first quarter. Fox Run Management L.L.C. now owns 15,000 shares of the information services provider’s stock valued at $692,000 after buying an additional 2,800 shares in the last quarter. Korea Investment CORP increased its position in shares of YY by 74.9% in the first quarter. Korea Investment CORP now owns 76,100 shares of the information services provider’s stock valued at $3,509,000 after buying an additional 32,600 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in YY by 72.3% in the first quarter. Acadian Asset Management LLC now owns 691,632 shares of the information services provider’s stock valued at $31,890,000 after buying an additional 290,272 shares during the period. 48.86% of the stock is owned by institutional investors.
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.
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