Momo (MOMO) Now Covered by Citigroup

Research analysts at Citigroup initiated coverage on shares of Momo (NASDAQ:MOMO) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $40.00 price target on the information services provider’s stock. Citigroup’s target price indicates a potential upside of 25.12% from the stock’s current price.

A number of other brokerages have also weighed in on MOMO. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of Momo from a “neutral” rating to an “overweight” rating in a research report on Friday, January 26th. Jefferies Group reiterated a “buy” rating and set a $45.00 target price on shares of Momo in a research report on Wednesday, January 24th. Finally, Deutsche Bank set a $43.00 target price on shares of Momo and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Momo currently has an average rating of “Buy” and a consensus target price of $41.01.

Momo (MOMO) opened at $31.97 on Tuesday. The firm has a market cap of $6,350.00, a PE ratio of 21.75 and a beta of 1.79. Momo has a 1 year low of $22.49 and a 1 year high of $46.69.

Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, November 28th. The information services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. The firm had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company’s quarterly revenue was up 125.5% compared to the same quarter last year. equities analysts expect that Momo will post 1.47 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL lifted its holdings in shares of Momo by 5.3% in the third quarter. Virginia Retirement Systems ET AL now owns 37,900 shares of the information services provider’s stock worth $1,188,000 after buying an additional 1,900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Momo by 22.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,871 shares of the information services provider’s stock worth $282,000 after buying an additional 1,971 shares in the last quarter. Rational Advisors LLC raised its stake in Momo by 108.7% in the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 2,500 shares in the last quarter. Boothbay Fund Management LLC raised its stake in Momo by 11.4% in the third quarter. Boothbay Fund Management LLC now owns 26,000 shares of the information services provider’s stock valued at $815,000 after purchasing an additional 2,657 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Momo by 10.7% in the fourth quarter. LPL Financial LLC now owns 27,938 shares of the information services provider’s stock valued at $684,000 after purchasing an additional 2,690 shares in the last quarter. 38.11% of the stock is currently owned by hedge funds and other institutional investors.

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About Momo

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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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