JPMorgan Chase & Co. Increases JOYY (NASDAQ:YY) Price Target to $35.00

JOYY (NASDAQ:YY) had its price objective increased by JPMorgan Chase & Co. from $30.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the information services provider’s stock.

YY has been the topic of several other research reports. Benchmark restated a hold rating on shares of JOYY in a report on Thursday, August 29th. StockNews.com cut JOYY from a buy rating to a hold rating in a report on Saturday, May 11th.

JOYY Trading Up 0.7 %

Shares of NASDAQ YY opened at $34.75 on Tuesday. The business has a fifty day simple moving average of $33.78 and a 200 day simple moving average of $32.50. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 6.55 and a beta of 0.24. JOYY has a one year low of $27.88 and a one year high of $43.20.

Hedge Funds Weigh In On JOYY

Several institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd lifted its holdings in shares of JOYY by 22.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock valued at $90,952,000 after purchasing an additional 552,082 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after acquiring an additional 134,394 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in JOYY by 4.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,008,508 shares of the information services provider’s stock valued at $40,038,000 after acquiring an additional 45,232 shares in the last quarter. Yunqi Capital Ltd lifted its stake in JOYY by 52.8% in the 1st quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock valued at $24,083,000 after acquiring an additional 270,564 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in JOYY by 10.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock valued at $21,990,000 after acquiring an additional 66,474 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.