Investment analysts at Citigroup began coverage on shares of Momo (NASDAQ:MOMO) in a report issued on Tuesday, February 20th, Marketbeat reports. The brokerage set a “buy” rating and a $40.00 price target on the information services provider’s stock. Citigroup’s target price points to a potential upside of 7.32% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Momo to $30.00 in a research report on Wednesday, November 29th. TheStreet raised shares of Momo from a “c+” rating to a “b-” rating in a research report on Monday, December 11th. Jefferies Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Momo in a research report on Wednesday, January 24th. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, October 25th. Finally, Benchmark decreased their target price on shares of Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, November 29th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.70.
Shares of Momo (NASDAQ:MOMO) traded up $0.45 on Tuesday, reaching $37.27. 3,897,278 shares of the company’s stock traded hands, compared to its average volume of 6,000,000. Momo has a 52 week low of $22.49 and a 52 week high of $46.69. The firm has a market cap of $7,400.00, a PE ratio of 24.36 and a beta of 1.68.
Momo (NASDAQ:MOMO) last announced its earnings results on Wednesday, March 7th. The information services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. The company had revenue of $386.40 million for the quarter, compared to analysts’ expectations of $381.17 million. Momo had a net margin of 24.17% and a return on equity of 36.58%. The firm’s quarterly revenue was up 57.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. sell-side analysts expect that Momo will post 1.9 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of MOMO. Rational Advisors LLC increased its stake in shares of Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after buying an additional 2,500 shares during the period. Castleark Management LLC purchased a new stake in shares of Momo during the fourth quarter worth approximately $144,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Momo by 213.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock worth $184,000 after buying an additional 5,125 shares during the period. Caxton Associates LP purchased a new stake in shares of Momo during the third quarter worth approximately $254,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Momo during the third quarter worth approximately $256,000. Institutional investors own 38.56% of the company’s stock.
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Momo Company Profile
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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