JOYY (NASDAQ:JOYY) Downgraded by Wall Street Zen to Hold

JOYY (NASDAQ:JOYY) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities analysts have also recently issued reports about the stock. Zacks Research raised shares of JOYY from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Morgan Stanley set a $66.00 price objective on shares of JOYY in a report on Monday, November 24th. Weiss Ratings upgraded shares of JOYY from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Finally, Citigroup increased their target price on shares of JOYY from $59.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.00.

JOYY Price Performance

Shares of JOYY stock opened at $65.18 on Friday. The business’s fifty day simple moving average is $61.02. JOYY has a 1-year low of $37.11 and a 1-year high of $67.85. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 2.02 and a beta of 0.33.

Institutional Trading of JOYY

Several institutional investors and hedge funds have recently modified their holdings of the business. Stonehill Capital Management LLC acquired a new stake in shares of JOYY in the third quarter valued at approximately $80,885,000. Public Employees Retirement System of Ohio purchased a new stake in JOYY in the 3rd quarter valued at approximately $9,204,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in JOYY in the 3rd quarter valued at approximately $1,189,000. China Universal Asset Management Co. Ltd. acquired a new stake in JOYY during the 3rd quarter valued at $715,000. Finally, Handelsbanken Fonder AB purchased a new position in JOYY during the third quarter worth $451,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.