JOYY (NASDAQ:JOYY) Trading 1.5% Higher – Still a Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY)’s stock price shot up 1.5% during trading on Friday . The stock traded as high as $63.89 and last traded at $63.09. 381,076 shares changed hands during trading, a decline of 7% from the average session volume of 409,320 shares. The stock had previously closed at $62.13.

Wall Street Analyst Weigh In

JOYY has been the subject of several analyst reports. Wall Street Zen downgraded shares of JOYY from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Morgan Stanley set a $66.00 price objective on JOYY in a research report on Monday, November 24th. Citigroup boosted their target price on JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Zacks Research upgraded JOYY from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of JOYY in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $72.00.

JOYY Trading Up 1.5%

The stock has a market cap of $3.24 billion, a P/E ratio of 1.95 and a beta of 0.39. The stock has a 50-day moving average of $65.64.

JOYY Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Friday, January 2nd were paid a $0.97 dividend. This is a positive change from JOYY’s previous dividend of $0.95. The ex-dividend date of this dividend was Friday, January 2nd. JOYY’s dividend payout ratio is currently 11.94%.

Institutional Trading of JOYY

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in JOYY during the third quarter valued at about $27,000. Sittner & Nelson LLC bought a new stake in shares of JOYY in the 3rd quarter valued at about $29,000. Farther Finance Advisors LLC purchased a new stake in JOYY during the 3rd quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in JOYY during the 3rd quarter valued at about $87,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in JOYY during the 3rd quarter worth approximately $142,000. 36.83% of the stock is owned by institutional investors.

JOYY Company Profile

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.