Haitong Reaffirms Their Buy Rating on Yalla Group (YALA)

Haitong analyst Natalie Wu maintained a Buy rating on Yalla Group (YALAResearch Report) on August 9 and set a price target of $5.50. The company’s shares closed yesterday at $4.41.

According to TipRanks, Wu is a 4-star analyst with an average return of 78.4% and a 100.00% success rate.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Yalla Group with a $5.50 average price target.

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The company has a one-year high of $11.00 and a one-year low of $3.10. Currently, Yalla Group has an average volume of 380.7K.

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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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