JOYY (NASDAQ:JOYY) Upgraded to Overweight at JPMorgan Chase & Co.

JOYY (NASDAQ:JOYY – Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a $98.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 33.50% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Research raised shares of JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, JOYY currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

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JOYY Trading Down 2.0%

Shares of JOYY stock opened at $73.41 on Wednesday. The stock’s fifty day moving average price is $69.85 and its 200-day moving average price is $64.12. The firm has a market cap of $3.67 billion, a P/E ratio of 17.03 and a beta of 0.47. JOYY has a 12 month low of $48.53 and a 12 month high of $76.68.

Hedge Funds Weigh In On JOYY

A number of large investors have recently added to or reduced their stakes in JOYY. DGS Capital Management LLC boosted its stake in JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock valued at $221,000 after acquiring an additional 211 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of JOYY by 167.7% during the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock worth $36,000 after purchasing an additional 384 shares in the last quarter. Sittner & Nelson LLC purchased a new stake in shares of JOYY during the 3rd quarter valued at $29,000. Ramsey Quantitative Systems acquired a new stake in shares of JOYY in the 2nd quarter worth $63,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of JOYY in the 1st quarter worth $281,000. 36.83% of the stock is currently owned by institutional investors.

JOYY Company Profile

(Get Free Report)

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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