YY Inc. (YY) Given New $101.00 Price Target at Bank of America Corporation
YY Inc. (NASDAQ:YY) had its price objective hoisted by research analysts at Bank of America Corporation from $89.00 to $101.00 in a research report issued on Monday. The brokerage currently has a “buy” rating on the information services provider’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 16.39% from the stock’s previous close.
A number of other equities analysts also recently commented on YY. Zacks Investment Research raised shares of YY from a “hold” rating to a “strong-buy” rating and set a $85.00 target price on the stock in a research note on Friday, August 25th. Goldman Sachs Group, Inc. (The) started coverage on shares of YY in a research report on Wednesday, August 30th. They set a “buy” rating and a $101.00 price target for the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $100.00 price target (up from $69.00) on shares of YY in a research report on Friday, August 11th. HSBC Holdings plc reiterated a “buy” rating and issued a $89.00 price target (up from $65.00) on shares of YY in a report on Friday, August 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $56.00 price target on shares of YY in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $74.25.
YY (NASDAQ:YY) opened at 86.78 on Monday. YY has a 12 month low of $37.81 and a 12 month high of $89.37.
YY (NASDAQ:YY) last announced its quarterly earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.19. YY had a net margin of 22.08% and a return on equity of 39.07%. The firm had revenue of $384.85 million for the quarter, compared to analysts’ expectations of $366.35 million. During the same period in the previous year, the company posted $0.90 earnings per share. YY’s revenue was up 28.9% compared to the same quarter last year. On average, analysts expect that YY will post $6.15 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Preferred LLC acquired a new stake in YY during the 2nd quarter valued at approximately $145,000. D.A. Davidson & CO. increased its holdings in YY by 17.4% during the 2nd quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock worth $156,000 after purchasing an additional 400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in YY by 7.5% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,870 shares of the information services provider’s stock worth $167,000 after purchasing an additional 200 shares during the last quarter. Profund Advisors LLC purchased a new stake in YY during the 2nd quarter worth approximately $240,000. Finally, Voya Investment Management LLC purchased a new stake in YY during the 2nd quarter worth approximately $268,000. 55.03% of the stock is owned by hedge funds and other institutional investors.
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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