Momo (MOMO) Downgraded to Hold at Zacks Investment Research

Momo (NASDAQ:MOMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Momo Inc. provides mobile-based social networking platform primarily in the Peoples Republic of China. Its platform includes mobile applications and related features, functionalities, tools and services. The Company offers two types of mobile game services non-exclusive mobile game services and exclusive mobile game services. It also provides membership subscription and other services which include paid emoticons and mobile marketing services. Momo Inc. is headquartered in Beijing, the Peoples Republic of China. “

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase upgraded Momo from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Morgan Stanley started coverage on Momo in a report on Wednesday, March 28th. They set a “buy” rating and a $51.00 target price for the company. Jefferies Group reiterated a “buy” rating and set a $45.00 target price on shares of Momo in a report on Wednesday, January 24th. Citigroup started coverage on Momo in a report on Tuesday, February 20th. They set a “buy” rating and a $40.00 target price for the company. Finally, BidaskClub cut Momo from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.91.

Momo opened at $39.89 on Tuesday, Marketbeat.com reports. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 26.07 and a beta of 1.56. Momo has a 1 year low of $22.49 and a 1 year high of $46.69.

Momo (NASDAQ:MOMO) last released its earnings results on Wednesday, March 7th. The information services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.11. The firm had revenue of $386.40 million during the quarter, compared to analysts’ expectations of $381.17 million. Momo had a return on equity of 36.58% and a net margin of 24.17%. The company’s revenue was up 57.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. equities analysts forecast that Momo will post 1.98 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Castleark Management LLC acquired a new position in shares of Momo during the 4th quarter worth about $144,000. Resources Investment Advisors Inc. acquired a new position in shares of Momo during the 1st quarter worth about $157,000. ING Groep NV acquired a new position in shares of Momo during the 1st quarter worth about $224,000. Cetera Advisor Networks LLC acquired a new position in shares of Momo during the 4th quarter worth about $237,000. Finally, Anchor Capital Advisors LLC acquired a new position in shares of Momo during the 1st quarter worth about $263,000. Institutional investors own 45.53% of the company’s stock.

About Momo

Momo Inc operates as a mobile-based social networking platform in the People's Republic of China. The company's platform includes its Momo mobile application and various related features, functionalities, tools, and services that are provided to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations and interests; and Hani, a live video application.

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