JOYY (YY) closed at $29.50 in the latest trading session, marking a -0.67% move from the prior day. This change lagged the S&P 500’s 0.21% loss on the day. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Coming into today, shares of the social media company had gained 6.07% in the past month. In that same time, the Computer and Technology sector gained 10.18%, while the S&P 500 gained 7.71%.
Investors will be hoping for strength from JOYY as it approaches its next earnings release. The company is expected to report EPS of $0.27, down 3.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.25 per share and revenue of $2.38 billion, which would represent changes of -11.42% and -1.44%, respectively, from the prior year.
Any recent changes to analyst estimates for JOYY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that JOYY has a Forward P/E ratio of 13.2 right now. For comparison, its industry has an average Forward P/E of 23.37, which means JOYY is trading at a discount to the group.
The Internet – Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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