JOYY (NASDAQ:JOYY) Reaches New 52-Week High - What's Next?

Key Points

• JOYY shares reached a new 52-week high of $85.15, last trading near $84.90, up from a previous close of $83.96.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy and one rates it Hold, while JPMorgan raised its target to $98.00. The consensus price target is $83.40.
• JOYY increased its quarterly dividend to $1.55 per share, equivalent to $6.20 annually and a 7.3% yield, although its payout ratio is elevated at 147.49%.

JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday. The company traded as high as $85.15 and last traded at $84.8980, with a volume of 416,282 shares traded. The stock had previously closed at $83.96.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded JOYY from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $98.00 in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of JOYY from a "hold (c-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Benchmark reaffirmed a "buy" rating on shares of JOYY in a research report on Wednesday, August 26th. Jefferies Financial Group reiterated a "buy" rating and set a $87.00 price objective on shares of JOYY in a research note on Wednesday, August 26th. Finally, Citigroup reissued a "buy" rating on shares of JOYY in a research report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, JOYY currently has an average rating of "Moderate Buy" and a consensus price target of $83.40.

JOYY Stock Performance

The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 20.27 and a beta of 0.38. The business's fifty day simple moving average is $77.53 and its 200 day simple moving average is $69.55.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from JOYY's previous quarterly dividend of $1.50. This represents a $6.20 dividend on an annualized basis and a dividend yield of 7.3%. JOYY's dividend payout ratio is presently 147.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of JOYY. EverSource Wealth Advisors LLC raised its position in shares of JOYY by 167.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company's stock valued at $36,000 after purchasing an additional 384 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of JOYY during the second quarter worth approximately $63,000. Integrated Wealth Concepts LLC acquired a new stake in shares of JOYY during the second quarter worth approximately $65,000. Nykredit A S bought a new stake in shares of JOYY in the second quarter worth $110,000. Finally, DGS Capital Management LLC increased its stake in shares of JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company's stock worth $221,000 after buying an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Company Profile

JOYY Inc NASDAQ: JOYY is a global technology company that operates video-based social media and live-streaming platforms. The company's services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.

JOYY's principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.

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