Bank of America Trims YY (NASDAQ:YY) Target Price to $83.00

YY (NASDAQ:YY) had its target price trimmed by Bank of America from $98.00 to $83.00 in a research note published on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the information services provider’s stock.

YY has been the subject of a number of other reports. BidaskClub downgraded YY from a sell rating to a strong sell rating in a research note on Tuesday, July 23rd. ValuEngine raised YY from a sell rating to a hold rating in a research note on Friday, August 2nd. Zacks Investment Research raised YY from a sell rating to a hold rating in a research note on Saturday, May 11th. Nomura raised YY from a neutral rating to a buy rating and cut their target price for the stock from $81.00 to $77.00 in a research note on Wednesday, May 29th. Finally, Benchmark reissued a buy rating and set a $95.00 target price (down from $106.00) on shares of YY in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $90.90.

YY opened at $55.01 on Tuesday. The business has a 50 day moving average price of $62.01 and a two-hundred day moving average price of $72.18. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.49 billion, a PE ratio of 7.72, a P/E/G ratio of 1.20 and a beta of 1.21. YY has a 52 week low of $51.00 and a 52 week high of $88.85.

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

Several hedge funds have recently modified their holdings of YY. Dimensional Fund Advisors LP grew its position in YY by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 607,581 shares of the information services provider’s stock valued at $36,390,000 after acquiring an additional 31,444 shares during the last quarter. Bellecapital International Ltd. grew its holdings in shares of YY by 16.7% in the first quarter. Bellecapital International Ltd. now owns 10,221 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,461 shares during the last quarter. Rocky Mountain Advisers LLC bought a new position in shares of YY in the first quarter worth approximately $31,000. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of YY by 52.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,000 shares of the information services provider’s stock worth $2,940,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of YY by 2,453.3% in the first quarter. Bank of Montreal Can now owns 290,773 shares of the information services provider’s stock worth $24,428,000 after purchasing an additional 279,385 shares during the last quarter. 59.10% of the stock is owned by institutional investors and hedge funds.

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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