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JOYY (YY) Gains As Market Dips: What You Should Know

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JOYY (YY - Free Report) closed the most recent trading day at $26.55, moving +0.99% from the previous trading session. This change outpaced the S&P 500's 2.37% loss on the day. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.21%.

Coming into today, shares of the social media company had lost 4.57% in the past month. In that same time, the Computer and Technology sector lost 9.03%, while the S&P 500 lost 6.51%.

JOYY will be looking to display strength as it nears its next earnings release. On that day, JOYY is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 23.81%. Our most recent consensus estimate is calling for quarterly revenue of $580.16 million, down 10.82% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.95 per share and revenue of $2.46 billion, which would represent changes of +47.73% and -5.98%, respectively, from the prior year.

Any recent changes to analyst estimates for JOYY should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. JOYY is currently a Zacks Rank #1 (Strong Buy).

Valuation is also important, so investors should note that JOYY has a Forward P/E ratio of 13.48 right now. Its industry sports an average Forward P/E of 19.91, so we one might conclude that JOYY is trading at a discount comparatively.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow YY in the coming trading sessions, be sure to utilize Zacks.com.


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