7 Cheap Social Media Stocks to Invest In

4. JOYY Inc. (NASDAQ:YY)

Forward P/E: 9.96

Analysts’ Upside Potential: 6.38%

Number of Hedge Fund Holders: 21

JOYY (NASDAQ:YY) is a global technology company that operates several social products, including Bigo Live for live streaming, Hago for multiplayer social networking, Likee for short-form videos, an instant messaging product, and others. It operates through two segments: BIGO and All Other. The BIGO segment encompasses several social entertainment platforms, including Bigo Live, imo, Likee, and others. The All Other segment manages Hago, Shopline, and a particular audio live-streaming platform.

Bigo Live allows users to socialize, connect with other users, share their life moments, and show their talents. Likee allows users to create, discover, and share short-form videos. It also features all-in-one video tools, such as special effects, filters, and AI-enabled personalized feeds. Hago, in contrast, offers casual games and integrated social features to its users, such as audio and video multiuser chatrooms and 3D virtual interactive party games.

JOYY (NASDAQ:YY) is generating robust cash flow through its businesses, allowing it to focus on its near-term core strategy while prioritizing long-term growth prospects. It is advancing continuous product innovation and focusing on optimizing user social interactions and content experience to improve user satisfaction. The company is experiencing significant growth potential in its global business and is leveraging its user-centric approach and product capabilities to boost the expansion of its global user community.

It is also focusing on innovative features directly affecting user interaction with its platform, such as Bigo Live’s Real Match feature which allows users space to meet new people. Real Match’s daily active users have nearly doubled in the past six months, exceeding 20% and boosting Bigo Live’s registration, payment conversion, and overall ROI. Such improvements give the company a competitive edge.

The company is also focusing on enhancing growth with operational efficiency to boost expansion in group and product profitability. The stock sports a consensus Buy rating among analysts, with its median price target implying an upside of 6.38% from current levels. It takes the fourth spot on our list of the top cheap social media stocks to invest in.