YY (NASDAQ:YY) had its price target reduced by equities researchers at Bank of America from $98.00 to $83.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Bank of America‘s target price points to a potential upside of 50.01% from the company’s current price.

Several other brokerages also recently weighed in on YY. Benchmark reissued a “buy” rating and issued a $95.00 target price (down previously from $106.00) on shares of YY in a research note on Wednesday, May 29th. BidaskClub downgraded shares of YY from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Zacks Investment Research raised shares of YY from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. Jefferies Financial Group initiated coverage on shares of YY in a research note on Monday, August 5th. They issued a “buy” rating and a $76.10 target price on the stock. Finally, ValuEngine raised shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $90.90.

Shares of YY opened at $55.33 on Tuesday. YY has a twelve month low of $51.00 and a twelve month high of $88.85. The company has a market cap of $3.65 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.13 and a beta of 1.21. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $62.32 and its 200-day simple moving average is $72.25.

YY (NASDAQ:YY) last announced its earnings results on Tuesday, August 13th. The information services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.13). YY had a net margin of 22.75% and a return on equity of 9.71%. The firm had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $878.97 million. During the same period in the prior year, the company posted $2.03 EPS. The company’s revenue was up 60.8% compared to the same quarter last year. Analysts predict that YY will post 3.4 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of YY. Ladenburg Thalmann Financial Services Inc. increased its stake in YY by 214.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 377 shares of the information services provider’s stock worth $26,000 after buying an additional 257 shares during the period. Rocky Mountain Advisers LLC purchased a new position in YY in the 1st quarter worth about $31,000. Advisor Group Inc. increased its stake in YY by 61.9% in the 2nd quarter. Advisor Group Inc. now owns 696 shares of the information services provider’s stock worth $48,000 after buying an additional 266 shares during the period. Bartlett & Co. LLC increased its stake in YY by 59.6% in the 2nd quarter. Bartlett & Co. LLC now owns 750 shares of the information services provider’s stock worth $52,000 after buying an additional 280 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in YY by 40.7% in the 1st quarter. Quadrant Capital Group LLC now owns 829 shares of the information services provider’s stock worth $67,000 after buying an additional 240 shares during the period. 59.10% of the stock is currently owned by institutional investors.

YY Company Profile

YY Inc, through its subsidiaries, engages in the live streaming business in the People's Republic of China. The company operates YY Live platform, an online music and entertainment live streaming service; Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.; and Bigo, a leading short-form video social platform.

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Analyst Recommendations for YY (NASDAQ:YY)

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