YY (YY) Upgraded to “Buy” by Vetr

Vetr upgraded shares of YY (NASDAQ:YY) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The firm currently has $118.46 price objective on the information services provider’s stock.

A number of other research analysts have also recently issued reports on YY. ValuEngine cut shares of YY from a strong-buy rating to a buy rating in a report on Thursday, December 14th. Bank of America raised their price objective on shares of YY from $89.00 to $101.00 and gave the stock a buy rating in a research note on Monday, October 2nd. BidaskClub cut shares of YY from a strong-buy rating to a buy rating in a research note on Wednesday, August 30th. Zacks Investment Research cut shares of YY from a strong-buy rating to a hold rating in a research note on Tuesday, October 17th. Finally, Benchmark reissued a buy rating and set a $127.00 price objective on shares of YY in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $85.76.

YY (NASDAQ:YY) opened at $113.85 on Tuesday. The stock has a market cap of $7,224.38, a PE ratio of 19.66 and a beta of 1.20. YY has a 1-year low of $37.81 and a 1-year high of $123.48.

YY (NASDAQ:YY) last posted its quarterly earnings results on Tuesday, November 14th. The information services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.05. The firm had revenue of $464.78 million during the quarter, compared to analysts’ expectations of $425.44 million. YY had a net margin of 22.23% and a return on equity of 34.26%. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of YY by 51.6% during the 2nd quarter. BlackRock Inc. now owns 1,980,784 shares of the information services provider’s stock valued at $114,945,000 after acquiring an additional 674,292 shares in the last quarter. Boston Partners increased its stake in YY by 10.7% during the 3rd quarter. Boston Partners now owns 1,743,607 shares of the information services provider’s stock worth $151,310,000 after buying an additional 167,854 shares during the period. Ward Ferry Management BVI Ltd increased its stake in YY by 6.3% during the 3rd quarter. Ward Ferry Management BVI Ltd now owns 1,120,800 shares of the information services provider’s stock worth $97,263,000 after buying an additional 66,800 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in YY by 3.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,064,000 shares of the information services provider’s stock worth $92,333,000 after buying an additional 32,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in YY by 40.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 816,087 shares of the information services provider’s stock worth $47,358,000 after buying an additional 232,996 shares during the period. Institutional investors own 56.87% of the company’s stock.

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YY Company Profile

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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