Momo (MOMO) Price Target Lowered to $41.00 at Nomura

Momo (NASDAQ:MOMO) had its target price lowered by Nomura from $55.00 to $41.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the information services provider’s stock.

Several other brokerages have also recently weighed in on MOMO. ValuEngine upgraded Momo from a hold rating to a buy rating in a report on Friday, September 14th. BidaskClub upgraded Momo from a sell rating to a hold rating in a report on Thursday, August 23rd. Finally, 86 Research upgraded Momo from a hold rating to a buy rating in a report on Friday, November 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $47.05.

MOMO stock traded down $2.48 during trading hours on Friday, reaching $24.57. 10,488,189 shares of the stock were exchanged, compared to its average volume of 4,373,535. The stock has a market cap of $5.39 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.55 and a beta of 1.84. 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 12 month low of $24.02 and a 12 month high of $54.24.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, December 5th. The information services provider reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.09. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $535.30 million. Momo had a return on equity of 35.60% and a net margin of 23.24%. Momo’s revenue for the quarter was up 51.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. On average, analysts forecast that Momo will post 2.12 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its holdings in Momo by 66.5% during the third quarter. Renaissance Technologies LLC now owns 7,485,200 shares of the information services provider’s stock worth $327,852,000 after purchasing an additional 2,990,500 shares during the period. BlackRock Inc. grew its holdings in Momo by 3.4% during the second quarter. BlackRock Inc. now owns 6,672,385 shares of the information services provider’s stock worth $290,249,000 after purchasing an additional 219,866 shares during the period. Vanguard Group Inc. grew its holdings in Momo by 3.8% during the third quarter. Vanguard Group Inc. now owns 3,527,945 shares of the information services provider’s stock worth $154,524,000 after purchasing an additional 127,769 shares during the period. Morgan Stanley grew its holdings in Momo by 3.7% during the second quarter. Morgan Stanley now owns 2,050,368 shares of the information services provider’s stock worth $89,191,000 after purchasing an additional 72,564 shares during the period. Finally, Man Group plc grew its holdings in Momo by 73.1% during the third quarter. Man Group plc now owns 1,989,364 shares of the information services provider’s stock worth $87,134,000 after purchasing an additional 840,073 shares during the period. Institutional investors and hedge funds own 55.25% of the company’s stock.

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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