JOYY (YY) closed at $28.50 in the latest trading session, marking a +0.99% move from the prior day. This change outpaced the S&P 500’s 0.15% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 3.33%.
Heading into today, shares of the social media company had lost 2.76% over the past month, lagging the Computer and Technology sector’s gain of 6.56% and the S&P 500’s gain of 1.21% in that time.
JOYY will be looking to display strength as it nears its next earnings release. On that day, JOYY is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 17.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $562.76 million, down 9.78% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.32 per share and revenue of $2.36 billion, which would represent changes of -48.03% and -2.1%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for 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. Within the past 30 days, our consensus EPS projection remained stagnant. JOYY currently has a Zacks Rank of #3 (Hold).
Investors should also note JOYY’s current valuation metrics, including its Forward P/E ratio of 21.38. For comparison, its industry has an average Forward P/E of 24.03, which means JOYY is trading at a discount to the group.
The Internet – Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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