JOYY (NASDAQ:JOYY) Stock Breaks Below 50-Day Moving Average - What's Next?

Key Points

• JOYY fell below its 50-day moving average: Shares traded as low as $78.00 and last stood at $78.74, below the $80.01 average.
• Analyst sentiment is generally positive: Six analysts rate the stock Buy and one rates it Hold, for a “Moderate Buy” consensus and an average price target of $83.40.
• The company raised its dividend: Its quarterly payment increased to $1.55 per share, equivalent to a 7.9% annualized yield; the payout ratio is 147.49%.

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $80.01 and traded as low as $78.00. JOYY shares last traded at $78.74, with a volume of 268,900 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Benchmark reissued a "buy" rating on shares of JOYY in a research report on Wednesday, August 26th. JPMorgan Chase & Co. raised JOYY from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $35.00 to $98.00 in a research report on Wednesday, August 12th. Weiss Ratings upgraded JOYY from a "hold (c-)" rating to a "buy (b)" rating in a research note on Friday, August 28th. Morgan Stanley set a $74.00 price objective on JOYY in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $87.00 target price on shares of JOYY in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, JOYY has an average rating of "Moderate Buy" and an average target price of $83.40.

JOYY Price Performance

The company has a market cap of $3.86 billion, a P/E ratio of 18.79 and a beta of 0.44. The company's 50-day moving average is $80.01 and its two-hundred day moving average is $68.88.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.55 per share. The ex-dividend date was Wednesday, September 30th. This represents a $6.20 annualized dividend and a yield of 7.9%. This is a positive change from JOYY's previous quarterly dividend of $1.50. JOYY's dividend payout ratio (DPR) is 147.49%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of JOYY. First Trust Advisors LP bought a new position in shares of JOYY during the third quarter valued at $17,825,000. North of South Capital LLP purchased a new stake in shares of JOYY during the third quarter valued at $6,537,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of JOYY during the third quarter valued at $119,000. Ibex Wealth Advisors bought a new stake in JOYY in the 3rd quarter worth about $505,000. Finally, Aberdeen Group plc bought a new stake in JOYY in the 3rd quarter worth about $1,497,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Company Profile

JOYY Inc. is a Singapore-headquartered internet company focused on live streaming, short-form video and online communication. Its consumer platforms include Bigo Live, where users broadcast and watch live content; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service. The company's roots are in China, where it began as an online social entertainment business. It adopted the JOYY name in 2019 as it expanded its focus beyond its original market. Its platforms serve users in numerous countries, with a presence in markets across Asia, the Middle East and other regions.

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