JOYY Inc.$60.02(2.93%)

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dmoney Well-calibrated. Correct 80 % of the time. 4199.01
$52 $65 forecast for 2020-02-29

Expect huge volatility for YY stock for the next month. 2019Q4 results - can they follow up the super strong growth from 2019Q3? Also the corona virus development will heavily impact the general stock market development in China the next month

dmoney Well-calibrated. Correct 80 % of the time. 4199.01 (edited)
$60 $120 forecast for 2020-12-31

The number one online streaming platform in China. With services aimed at gaming, dating, music, live performance etc. YY is trying to expand globally and acquired the Singapore based live-streaming app Bigo-Live in the second quarter of 2019. The YY stock has fallen 55% from the top in 2018, which partly can be attributed to declining earnings, increased competition and a negative sentiment in general for Chinese tech stocks.

YY posted a $963 million revenues for 2019Q3, representing an immense 68% YoY growth, but their earnings fell from $90 million to $15 million. Attributing the poor development in earnings to implementing Bigo-Live into their business. The live streaming space is growing rapidly and YY's main competitor Momo is at least for now growing even faster (Momo is valued at far steeper multiples than YY) and YY is trying to dominate the space and grow globally - which for now they seem to be very successful at.

YY is valued at around a $5 billion market cap with a trailing P/E of 15, forward P/E of 12, P/B 1.1, very low debt and super solid balance sheet.

I believe YY is way undervalued. Their business has strong network effects, a growing user base and a real moat, they are growing at an extreme pace and impressively still posting positive earnings while doing so. At the current pricing they are priced far below the average US stock (US average market P/E is around 25) and with very attractive future growth prospects.

insighter 0

Super cheap and on a good roll, if it breaks out of the resistance around 68, we could see 85 within June 2019

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