Weiss Ratings Downgrades JOYY (NASDAQ:JOYY) to Sell (D+)

Key Points

• Weiss Ratings has downgraded JOYY from a "hold (C-)" to a "sell (D+)" rating in a recent report.
• Despite the downgrade, Citigroup has reiterated a "buy" rating for JOYY, leading to a mixed analyst outlook.
• JOYY reported a net margin of 82.39% and revenue of $507.76 million for the latest quarter, indicating strong financial performance despite the downgrade.

JOYY (NASDAQ:JOYY - Get Free Report) was downgraded by analysts at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a report issued on Wednesday,Weiss Ratings reports.

Separately, Citigroup reiterated a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold".

JOYY Stock Up 0.6%

Shares of JOYY stock opened at $58.09 on Wednesday. The company has a market capitalization of $3.02 billion, a P/E ratio of 1.80 and a beta of 0.24. JOYY has a 52 week low of $33.00 and a 52 week high of $64.76.

JOYY (NASDAQ:JOYY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $1.36 EPS for the quarter. JOYY had a net margin of 82.39% and a return on equity of 4.81%. The firm had revenue of $507.76 million during the quarter.

About JOYY

JOYY Inc, through its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as live talk with other users, make video calls, and watch trend videos; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls, text messages, and photo and video sharing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.