JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Stock Has Consensus Price Target of $83.40 According to Analysts

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $83.40.

Several brokerages have recently issued reports on JOYY. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $98.00 in a report on Wednesday, August 12th. Benchmark reaffirmed a “buy” rating on shares of JOYY in a research report on Wednesday, August 26th. Citigroup reiterated a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Finally, Morgan Stanley set a $74.00 price target on shares of JOYY in a research note on Wednesday, August 26th.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of JOYY during the 2nd quarter valued at about $65,000. Nykredit A S acquired a new stake in JOYY in the 2nd quarter worth approximately $110,000. Ramsey Quantitative Systems bought a new stake in JOYY during the second quarter worth approximately $63,000. Handelsbanken Fonder AB grew its holdings in JOYY by 67.5% during the second quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company’s stock valued at $851,000 after purchasing an additional 5,200 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in JOYY by 167.7% during the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after purchasing an additional 384 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Trading Down 1.4%

JOYY opened at $79.19 on Thursday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 18.90 and a beta of 0.38. JOYY has a 1 year low of $54.24 and a 1 year high of $81.25. The stock has a fifty day moving average price of $75.86 and a 200 day moving average price of $67.69.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a yield of 7.8%. JOYY’s dividend payout ratio (DPR) is currently 147.49%.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates social media, live-streaming and digital entertainment platforms. The company’s services enable users to create and share content, communicate in real time, and participate in online communities through video, audio and messaging formats.

JOYY’s portfolio has included BIGO Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant messaging and communications service.