2021-11-01 18:49:32 YY Joyy
11/01/21 11/0118:49 11/01/2118:49 | Joyy downgraded to Sell from Neutral at Goldman SachsGoldman Sachs analyst Piyush Mubayi downgraded Joyy to Sell from Neutral with a price target of $57, down from $99. The analyst said the company will likely see its growth rate fall "sharply" into the low double digits starting in Q3 from 140% five quarters ago, which raises concerns of BIGO Live's long-term growth runway. Mubayi sees BIGO Live growing at a slowing pace and structurally losing live streaming revenue share to TikTok. |
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