Scotiabank Reaffirms “Overweight” Rating for YY (NASDAQ:YY)

YY (NASDAQ:YY)‘s stock had its “overweight” rating restated by research analysts at Scotiabank in a report issued on Tuesday, AnalystRatings.com reports. They currently have a $125.00 target price on the information services provider’s stock. Scotiabank’s target price suggests a potential upside of 52.44% from the company’s current price.

YY has been the subject of a number of other reports. Zacks Investment Research raised shares of YY from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley raised shares of YY from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Wednesday, May 20th. Nomura reissued a “buy” rating and issued a $80.00 price objective on shares of YY in a research note on Thursday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of YY from $75.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Finally, Credit Suisse Group increased their price objective on shares of YY from $88.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. YY presently has an average rating of “Buy” and an average price target of $90.91.

Shares of YY stock opened at $82.00 on Tuesday. YY has a 12 month low of $41.33 and a 12 month high of $99.35. The stock has a market cap of $6.63 billion, a P/E ratio of 74.55, a P/E/G ratio of 16.91 and a beta of 1.25. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $81.51 and a two-hundred day simple moving average of $63.58.

YY (NASDAQ:YY) last announced its earnings results on Wednesday, May 20th. The information services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.09. YY had a net margin of 2.41% and a return on equity of 5.40%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $963.72 million. During the same period in the prior year, the company earned $1.38 earnings per share. The firm’s revenue was up 43.2% on a year-over-year basis. As a group, equities analysts forecast that YY will post 3.44 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Capital World Investors lifted its position in YY by 20.9% during the first quarter. Capital World Investors now owns 2,628,706 shares of the information services provider’s stock valued at $140,005,000 after purchasing an additional 455,182 shares during the last quarter. TB Alternative Assets Ltd. lifted its position in YY by 35.4% during the first quarter. TB Alternative Assets Ltd. now owns 1,056,857 shares of the information services provider’s stock valued at $56,288,000 after purchasing an additional 276,137 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in YY by 56.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 194,402 shares of the information services provider’s stock valued at $16,332,000 after purchasing an additional 70,293 shares during the last quarter. Aperio Group LLC lifted its position in YY by 31.6% during the first quarter. Aperio Group LLC now owns 60,650 shares of the information services provider’s stock valued at $3,230,000 after purchasing an additional 14,576 shares during the last quarter. Finally, Thomas White International Ltd. lifted its position in YY by 20.1% during the first quarter. Thomas White International Ltd. now owns 44,777 shares of the information services provider’s stock valued at $2,385,000 after purchasing an additional 7,504 shares during the last quarter. Hedge funds and other institutional investors own 51.66% of the company’s stock.

About YY

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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