In the latest trading session, JOYY (YY) closed at $50.53, marking a -0.06% move from the previous day. This move lagged the S&P 500’s daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
– Zacks
Prior to today’s trading, shares of the social media company had gained 10.13% over the past month. This has outpaced the Computer and Technology sector’s loss of 8.19% and the S&P 500’s loss of 5.29% in that time.
Investors will be hoping for strength from JOYY as it approaches its next earnings release. On that day, JOYY is projected to report earnings of $0.13 per share, which would represent year-over-year growth of 144.83%. Our most recent consensus estimate is calling for quarterly revenue of $897.98 million, up 54.86% from the year-ago period.
Investors might also notice recent changes to analyst estimates for JOYY. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. JOYY currently has a Zacks Rank of #3 (Hold).
In terms of valuation, JOYY is currently trading at a Forward P/E ratio of 47.25. For comparison, its industry has an average Forward P/E of 25.2, which means JOYY is trading at a premium to the group.
The Internet – Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.3% per year. So be sure to give these hand-picked 7 your immediate attention.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
JOYY Inc. Sponsored ADR (YY): Free Stock Analysis Report
To read this article on Zacks.com click here.