JOYY (NASDAQ:YY) Sets New 1-Year High – What’s Next?

JOYY Inc. (NASDAQ:YY)’s stock price reached a new 52-week high on Monday . The company traded as high as $41.38 and last traded at $41.38, with a volume of 221389 shares traded. The stock had previously closed at $38.85.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on YY. Benchmark reiterated a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on shares of JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd.

JOYY Stock Performance

The firm has a market capitalization of $2.39 billion, a P/E ratio of 12.50 and a beta of 0.26. The firm has a 50-day moving average of $35.21 and a 200-day moving average of $33.67.

Institutional Trading of JOYY

Several large investors have recently bought and sold shares of the company. Swedbank AB purchased a new stake in JOYY in the first quarter worth about $1,475,000. DekaBank Deutsche Girozentrale boosted its holdings in JOYY by 53.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $233,000 after acquiring an additional 2,694 shares in the last quarter. Blue Trust Inc. grew its stake in shares of JOYY by 22,728.6% in the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock worth $49,000 after acquiring an additional 1,591 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of JOYY in the 2nd quarter worth about $29,000. Finally, LSV Asset Management raised its position in shares of JOYY by 780.9% in the 2nd quarter. LSV Asset Management now owns 232,552 shares of the information services provider’s stock worth $6,997,000 after purchasing an additional 206,152 shares during the last quarter. 36.83% of the stock is owned by institutional investors.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.