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

JOYY (NASDAQ:JOYY) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $98.00 price target on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 33.50% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Zacks Research upgraded shares of JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Citigroup reissued a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.50.

JOYY Trading Down 2.0%

NASDAQ:JOYY opened at $73.41 on Wednesday. JOYY has a twelve month low of $48.53 and a twelve month high of $76.68. The company has a market cap of $3.67 billion, a PE ratio of 17.03 and a beta of 0.47. The company’s 50 day moving average is $69.85 and its two-hundred day moving average is $64.12.

Institutional Trading of JOYY

Several large investors have recently made changes to their positions in JOYY. DGS Capital Management LLC increased its stake in shares of JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock worth $221,000 after acquiring an additional 211 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in JOYY by 167.7% in 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. Sittner & Nelson LLC purchased a new stake in JOYY in the third quarter valued at $29,000. Ramsey Quantitative Systems acquired a new stake in JOYY during the 2nd quarter worth about $63,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in JOYY during the 1st quarter worth about $281,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Company Profile

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.