JOYY (NASDAQ:JOYY) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded JOYY from a "hold" to a "strong sell" in a report released Thursday.
• Other analysts are mixed — Citigroup and UBS have recent buy ratings with price targets up to $80, but the MarketBeat consensus remains a Hold with an average target of $74.67.
• JOYY opened at $58.76, with a market cap of $3.02 billion and a very low trailing P/E of 1.51, trading below its one‑year high of $70.96 and well under the consensus price target.

JOYY (NASDAQ:JOYY - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

JOYY has been the topic of a number of other reports. Morgan Stanley set a $66.00 price objective on JOYY in a report on Monday, November 24th. Citigroup lifted their target price on shares of JOYY from $70.00 to $78.00 and gave the company a "buy" rating in a report on Tuesday, January 13th. UBS Group started coverage on JOYY in a research report on Wednesday, March 11th. They issued a "buy" rating and a $80.00 price objective on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of JOYY in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of JOYY from a "buy" rating to a "hold" rating in a research report on Saturday, December 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $74.67.

JOYY Stock Performance

JOYY stock opened at $58.76 on Thursday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 1.51 and a beta of 0.36. JOYY has a 1 year low of $37.53 and a 1 year high of $70.96. The firm has a 50 day moving average price of $63.62 and a 200 day moving average price of $62.31.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in JOYY during the 3rd quarter valued at approximately $35,000. SG Americas Securities LLC acquired a new stake in shares of JOYY in the 3rd quarter worth about $306,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in JOYY in the 3rd quarter valued at about $1,189,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in JOYY in the 3rd quarter worth about $87,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of JOYY during the third quarter valued at approximately $27,000. Institutional investors own 36.83% of the company's stock.

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.

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