Tuya Stock Plunges 32% Year to Date: Should You Buy the Dip?

Zacks11-21 23:45

Tuya TUYA, a leading global provider of IoT development platforms, has seen its stock decline 32% year to date (YTD), significantly underperforming the Zacks Internet - Software industry’s return of ...

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The stock has also underperformed the Technology Select Sector SPDR Fund XLK ETF’s YTD return of 20.1%.While the plunge raises concerns about Tuya’s near-term challenges, the long-term investment case appears compelling. Tuya’s strong fundamentals, growing market presence and strategic initiatives position it as a potential recovery play in the Internet of things  sector. Here’s why investors should consider buying the dip.Tuya Inc. Sponsored ADR price-consensus-chart | Tuya Inc. Sponsored ADR Quote. TUYA is expected to benefit from its meaningful partnership agreements. The partnership with V2 Indonesia, the","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1989763005.USD":"东方汇理教育基金A2 Acc","XLK":"高科技指数ETF-SPDR","TUYA":"涂鸦智能","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0080751232.USD":"富达环球多元动力基金A","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0757359954.USD":"SCHRODER ISF GLOBAL MULTI-ASSET INCOME \"A\" (USD) INC MF","SG9999002232.USD":"Allianz Global High Payout USD","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","LU0345774631.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) INC","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU2279689827.SGD":"JPMorgan Investment Funds - Global Income Sustainable A (mth) SGD-H","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","BK4524":"宅经济概念","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4538":"云计算","LU1228905037.USD":"NINETY ONE GSF GLOBAL QUALITY DIVIDEND GROWTH \"A\" (USD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU1334329650.SGD":"JPMorgan Investment Funds - Global Macro Opportunities A (acc) SGD-H","MSFT":"微软","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","BK4503":"景林资产持仓","LU0690374961.EUR":"FUNDSMITH EQUITY \"R\" (EUR) INC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","AMZN":"亚马逊"},"translate_title":"涂鸦股价今年迄今暴跌32%：你应该逢低买入吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XLK":1,"AMZN":1,"MSFT":1,"TUYA":0.9},"content_text":"Tuya TUYA, a leading global provider of IoT development platforms, has seen its stock decline 32% year to date (YTD), significantly underperforming the Zacks Internet - Software industry’s return of 28.8%. The stock has also underperformed the Technology Select Sector SPDR Fund XLK ETF’s YTD return of 20.1%.While the plunge raises concerns about Tuya’s near-term challenges, the long-term investment case appears compelling. Tuya’s strong fundamentals, growing market presence and strategic initiatives position it as a potential recovery play in the Internet of things (IoT) sector. Here’s why investors should consider buying the dip.\nTuya Inc. Sponsored ADR Price and Consensus\n\n  \nTuya Inc. Sponsored ADR price-consensus-chart | Tuya Inc. Sponsored ADR Quote\n\nTuya’s Resilient Revenue Growth Amid Market Challenges\nTuya has demonstrated impressive resilience in maintaining revenue growth despite a challenging macroeconomic environment. In the third quarter of 2024, TUYA reported a 33.6% year-over-year increase in total revenues, reaching $81.6 million. While quarter-over-quarter growth decelerated, the year-over-year improvement highlights the company’s ability to adapt and scale amid economic headwinds. Tuya’s diversified revenue streams across IoT PaaS, SaaS, and smart device distribution provide a strong foundation for sustained growth.Moreover, the company’s IoT PaaS segment, which constitutes its largest revenue driver, grew significantly, fueled by robust demand in North America and Europe. Tuya’s efforts to expand its geographic footprint have begun yielding results, mitigating some risks associated with its reliance on the Chinese market.\nTuya’s Strategic Contracts Bolster Long-Term Growth\nIn the third quarter, TUYA entered into definitive agreements globally, particularly in Europe and emerging markets, and expanded its developer community to 1.26 million registered developers.A continuous flow of contracts is driving Tuya’s growth. The company concluded two fresh contracts in the third quarter with leading telecom operators in Thailand and Vietnam and is consistently receiving repeat orders from smart devices from existing customers who have already deployed its solutions. During the third quarter, it also grabbed a $1.3 million contract from Singapore’s Housing & Development Board, which underscores its growing presence in large-scale enterprise projects.These contracts not only strengthen Tuya’s credibility but also open doors for further expansion into the burgeoning IoT market. Such contracts demonstrate TUYA’s ability to secure high-value deals and tap into rising digital transformation initiatives globally.The Zacks Consensus Estimate for 2024 and 2025 indicates a strong double-digit revenue growth. The company’s earnings are also expected to increase year over year in both years.\nStrategic Collaboration to Aid TUYA’s Prospects\nTUYA is expected to benefit from its meaningful partnership agreements. The partnership with V2 Indonesia, the top solution provider in Indonesia, in June 2024 to jointly promote the deep integration of cutting-edge technologies is a notable development.In July 2024, TUYA’s partnership with AiTAN, Thailand's premier smart solution provider, was a significant move. The collaboration was a remarkable step in their joint pursuit of creating cutting-edge smart solutions to elevate the smart living experience for commercial developers and household users across Thailand and broader Southeast Asia.The latest partnership with Cerence to offer multi-lingual text-to-speech for its cloud developer platform, which is specifically tailored for two-wheel vehicles like motorcycles, e-bikes and more, was a positive move.\nTuya’s Competitive Edge in the IoT Ecosystem\nTuya stands out against rivals like Microsoft’s MSFT Azure IoT and Amazon’s AMZN AWS IoT Core by leveraging its scalable and AI-driven IoT development platform tailored for a broad spectrum of businesses. While competitors cater primarily to large enterprises, Tuya democratizes IoT adoption with cost-effective solutions accessible to small and medium-sized businesses, a massive untapped market.Unlike Azure IoT and AWS IoT Core, Tuya offers an integrated ecosystem spanning IoT PaaS, SaaS and smart device distribution, enabling end-to-end device connectivity and streamlined deployment. Its modular approach allows businesses to customize their IoT infrastructure without technical expertise.Tuya’s Industry SaaS solutions also differentiate it by addressing niche verticals like hospitality, energy management and security. This targeted strategy helps Tuya penetrate markets underserved by its larger rivals.\nConclusion: Buy TUYA Stock for Now\nDespite its 32% YTD plunge, Tuya’s robust revenue growth, expanding SaaS ecosystem and strong financial position make it a compelling investment. The company’s strategic focus on geographic diversification, enterprise partnerships and technological innovation enhances its growth outlook.From a valuation standpoint, TUYA currently trades at a price-to-sales multiple of 2.30X, which is well below the industry average of 2.94X. This discount provides an entry point for value-seeking investors who believe in the long-term potential of the cloud platform services.TUYA currently carries a Zacks Rank #2 (Buy), implying that investors should accumulate the stock now. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAmazon.com, Inc. (AMZN) : Free Stock Analysis Report\nMicrosoft Corporation (MSFT) : Free Stock Analysis Report\nTechnology Select Sector SPDR ETF (XLK): ETF Research Reports\nTuya Inc. Sponsored ADR (TUYA) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485448965"}