BidaskClub upgraded shares of Momo (NASDAQ:MOMO) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Momo to $30.00 in a research note on Wednesday, November 29th. TheStreet upgraded shares of Momo from a c+ rating to a b- rating in a research note on Monday, December 11th. Zacks Investment Research upgraded shares of Momo from a hold rating to a buy rating and set a $35.00 price objective for the company in a research note on Wednesday, October 25th. Jefferies Group restated a buy rating and issued a $54.00 price objective on shares of Momo in a research note on Tuesday, October 3rd. Finally, Benchmark decreased their price objective on shares of Momo from $48.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Momo has an average rating of Buy and a consensus target price of $41.23.
Momo (NASDAQ MOMO) traded down $0.40 during trading hours on Tuesday, reaching $26.47. The company had a trading volume of 4,380,000 shares, compared to its average volume of 4,810,000. The stock has a market capitalization of $5,260.00, a price-to-earnings ratio of 18.01 and a beta of 1.54. Momo has a 52-week low of $21.30 and a 52-week high of $46.69.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company had revenue of $354.10 million during the quarter, compared to the consensus estimate of $342.48 million. The business’s quarterly revenue was up 125.5% compared to the same quarter last year. equities research analysts forecast that Momo will post 1.47 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in MOMO. BT Investment Management Ltd boosted its stake in shares of Momo by 661.7% during the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock worth $238,534,000 after buying an additional 6,611,904 shares during the period. BlackRock Inc. boosted its stake in shares of Momo by 2,664.8% during the second quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock worth $132,331,000 after buying an additional 3,450,915 shares during the period. Greenwoods Asset Management Ltd boosted its stake in shares of Momo by 2,615.2% during the second quarter. Greenwoods Asset Management Ltd now owns 1,982,125 shares of the information services provider’s stock worth $73,259,000 after buying an additional 1,909,125 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Momo by 33.6% during the third quarter. JPMorgan Chase & Co. now owns 5,102,447 shares of the information services provider’s stock worth $165,524,000 after buying an additional 1,283,287 shares during the period. Finally, State Street Corp boosted its stake in shares of Momo by 3,342.6% during the second quarter. State Street Corp now owns 1,096,159 shares of the information services provider’s stock worth $40,512,000 after buying an additional 1,064,318 shares during the period. Institutional investors and hedge funds own 39.75% of the company’s stock.
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Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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