In a report released on August 9, Xueqing Zhang from China International reiterated a Buy rating on Yalla Group (YALA – Research Report), with a price target of $5.90. The company’s shares closed last Friday at $4.54.
Currently, the analyst consensus on Yalla Group is a Moderate Buy with an average price target of $5.70, a 25.55% upside from current levels. In a report released on August 9, Haitong also maintained a Buy rating on the stock with a $5.50 price target.
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The company has a one-year high of $10.62 and a one-year low of $3.10. Currently, Yalla Group has an average volume of 388.1K.
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Yalla Group Ltd through its subsidiaries, operates a voice-centric social networking and entertainment platform mainly in the Middle East and North Africa region. The platform allows individual users free access to the basic functions on the platform. It also provides enhanced experiences for individual users by sales of virtual items and provision of upgrade services on the platform. The company’s mobile application, Yalla, brings traditional majlis online and features voice chat rooms where people can spend their leisure time chatting casually. Yalla Ludo resembles a family living room where family members and friends play board games that are highly popular in MENA, such as Ludo and Domino.
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