Momo Inc (NASDAQ:MOMO) has received an average rating of “Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $52.65.
A number of equities analysts have recently issued reports on MOMO shares. Standpoint Research raised Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. ValuEngine raised Momo from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. BidaskClub raised Momo from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th.
Shares of MOMO stock traded down $0.12 during trading hours on Monday, reaching $35.29. 87,960 shares of the company’s stock were exchanged, compared to its average volume of 5,194,787. The company has a market cap of $7.05 billion, a PE ratio of 23.07, a PEG ratio of 0.70 and a beta of 1.88. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21. Momo has a fifty-two week low of $22.49 and a fifty-two week high of $54.24.
Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $494.27 million for the quarter, compared to the consensus estimate of $479.37 million. Momo had a return on equity of 37.12% and a net margin of 25.40%. The business’s quarterly revenue was up 58.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that Momo will post 2.19 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Momo by 3.4% during the second quarter. BlackRock Inc. now owns 6,672,385 shares of the information services provider’s stock valued at $290,249,000 after buying an additional 219,866 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Momo by 104.8% during the second quarter. Renaissance Technologies LLC now owns 4,494,700 shares of the information services provider’s stock valued at $195,519,000 after buying an additional 2,300,100 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Momo during the second quarter valued at $167,114,000. Morgan Stanley grew its holdings in shares of Momo by 3.7% during the second quarter. Morgan Stanley now owns 2,050,368 shares of the information services provider’s stock valued at $89,191,000 after buying an additional 72,564 shares during the last quarter. Finally, Sylebra HK Co Ltd grew its holdings in shares of Momo by 194.9% during the second quarter. Sylebra HK Co Ltd now owns 1,547,969 shares of the information services provider’s stock valued at $67,337,000 after buying an additional 1,022,971 shares during the last quarter. 53.48% of the stock is currently owned by hedge funds and other institutional investors.
Momo Company Profile
Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.
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