YY (NASDAQ:YY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “YY Inc. is a communication social platform, which engages users in online group activities through voice, text and video. The Company’s Platform consists of YY Client, the YY.com and Duowan.com web portals, Mobile YY and Web-based YY. YY Inc. is based in Guangzhou, the People’s Republic of China. “
Other analysts also recently issued reports about the company. Benchmark reiterated a “buy” rating and set a $140.00 target price (down from $168.00) on shares of YY in a research report on Tuesday, August 14th. Jefferies Financial Group reiterated a “buy” rating and set a $110.00 target price on shares of YY in a research report on Wednesday, August 15th. CLSA set a $125.00 target price on YY and gave the stock a “buy” rating in a research report on Tuesday, September 25th. BidaskClub downgraded YY from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. Finally, ValuEngine downgraded YY from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $133.29.
YY (NASDAQ:YY) last announced its quarterly earnings data on Monday, August 13th. The information services provider reported $2.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.22. The firm had revenue of $570.20 million for the quarter, compared to analyst estimates of $544.76 million. YY had a return on equity of 22.08% and a net margin of 14.99%. YY’s quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 earnings per share. On average, equities research analysts anticipate that YY will post 6.69 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Cascade Investment Advisors Inc. purchased a new position in YY during the second quarter worth about $166,000. First Hawaiian Bank purchased a new position in YY during the third quarter worth about $151,000. Stevens Capital Management LP purchased a new position in YY during the second quarter worth about $212,000. Crossmark Global Holdings Inc. purchased a new position in YY during the second quarter worth about $212,000. Finally, United Services Automobile Association purchased a new position in YY during the second quarter worth about $223,000. Institutional investors and hedge funds own 60.65% of the company’s stock.
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; and Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.
Recommended Story: The Role of a Fiduciary and Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for YY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YY and related companies with MarketBeat.com's FREE daily email newsletter.