YY Inc. (NASDAQ:YY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $85.00 target price on the information services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.97% from the stock’s previous close.
According to Zacks, “YY Inc. is a communication social platform, which engages users in online group activities through voice, text and video. The Company’s Platform consists of YY Client, the YY.com and Duowan.com web portals, Mobile YY and Web-based YY. YY Inc. is based in Guangzhou, the People’s Republic of China. “
A number of other equities research analysts have also issued reports on YY. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 target price on shares of YY in a research note on Wednesday, August 16th. Citigroup Inc. upped their target price on YY to $100.00 and gave the company a “buy” rating in a research note on Friday, August 11th. ValuEngine lowered YY from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 7th. BidaskClub raised YY from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 20th. Finally, CICC Research lowered YY to a “hold” rating and set a $60.00 target price on the stock. in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. YY currently has a consensus rating of “Buy” and an average target price of $68.03.
Shares of YY (YY) traded down 1.269% during mid-day trading on Friday, reaching $74.285. The company had a trading volume of 236,829 shares. YY has a 52 week low of $37.81 and a 52 week high of $83.00. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 13.974 and a beta of 1.16. The stock has a 50 day moving average of $70.09 and a 200-day moving average of $55.53.
YY (NASDAQ:YY) last announced its quarterly earnings results on Thursday, August 10th. The information services provider reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million for the quarter, compared to analyst estimates of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. On average, analysts expect that YY will post $6.09 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC purchased a new stake in YY during the second quarter worth approximately $145,000. D.A. Davidson & CO. increased its stake in YY by 17.4% in the second quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock worth $156,000 after buying an additional 400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in YY by 7.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,870 shares of the information services provider’s stock worth $167,000 after buying an additional 200 shares during the last quarter. Profund Advisors LLC purchased a new stake in YY during the second quarter worth approximately $240,000. Finally, Smith Asset Management Group LP purchased a new stake in YY during the first quarter worth approximately $206,000. Institutional investors own 50.92% of the company’s stock.
About YY
YY Inc (YY) is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company’s segments include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning.
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