JOYY Inc Surpasses Analyst Target Price: What’s Next for Investors?
Shares of JOYY Inc (Symbol: YY) recently traded above the average analyst 12-month target price of $36.00, reaching $36.40. When a stock meets its target, analysts typically respond in one of two ways: downgrading their valuation or adjusting their price targets higher. Their reactions depend on recent developments within the company that drove the stock upward. If the business remains strong, analysts might consider raising their targets.
Four analysts contribute to the average target for JOYY Inc in the Zacks coverage universe. However, this average is simply a mathematical calculation. Some analysts have set lower targets; for example, one analyst aims for $33.00, while another has set an aggressive target of $40.00. The standard deviation among these targets is $2.943.
Investors often rely on the average price target to gain insights into market sentiment, reflecting a collective viewpoint rather than a single expert’s opinion. JOYY’s rise above the average target price of $36.00/share prompts investors to reassess the company. They should consider whether $36.00 marks a potential upward trend or if the stock is overvalued, suggesting it might be wise to take some profits off the table. Below is a table showing the current analyst sentiments regarding JOYY Inc:
| Recent YY Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 1 | 1 | 1 | 1 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 4 | 4 | 4 | 4 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.6 | 2.6 | 2.6 | 2.6 |
The average rating is a scale from 1 to 5, where 1 signifies a Strong Buy and 5 indicates a Strong Sell. This article utilized data from Zacks Investment Research via Quandl.com. Access the latest Zacks research report on YY — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
