Vetr Crowd Urges Sell After YY's Solid Q3
The Vetr Crowd on Thursday downgraded its rating on YY Inc. (NASDAQ: YY) from 4 stars (Buy), issued 22 days ago, to 2 stars (Sell). Crowd sentiment on YY at the time of the downgrade was generally negative, with 66 percent of Vetr user ratings bearish.
The downgrade comes as YY surpassed its previous all-time high after posting strong Q3 earnings, with total sales surpassing analyst estimates at $464.8 million and the company's per share revenue exceeding the consensus estimate of $1.45 by 13 cents. The solid numbers caused shares in the Chinese social media company to spike nearly 6 percent within 90 minutes of Wednesday's open before it climbed to its high of the day at $111.39.
YY opened higher on Thursday at 114.82 before closing the day at $107.02.
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Currently, the Vetr crowd's average price target for YY is down at $100.74. Less than 2 percent of Vetr users are holding YY in their watch-lists.
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