Momo Inc (NASDAQ:MOMO) has been given a consensus recommendation of “Buy” by the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $44.33.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, May 15th. Citigroup raised shares of Momo from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $40.00 in a report on Tuesday, May 28th. Morgan Stanley upgraded shares of Momo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $44.00 in a research report on Wednesday, March 13th. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Nomura raised their price objective on shares of Momo from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th.
Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Gravity Wealth Inc. acquired a new stake in Momo in the 1st quarter valued at about $25,000. Daiwa Securities Group Inc. increased its position in Momo by 148.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,120 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 670 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Momo by 76.3% during the 4th quarter. Advisors Asset Management Inc. now owns 1,294 shares of the information services provider’s stock worth $31,000 after buying an additional 560 shares during the period. Quadrant Capital Group LLC grew its position in shares of Momo by 21.5% during the 1st quarter. Quadrant Capital Group LLC now owns 1,694 shares of the information services provider’s stock worth $64,000 after buying an additional 300 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Momo during the 4th quarter worth approximately $71,000. Hedge funds and other institutional investors own 58.39% of the company’s stock.
MOMO traded down $0.85 on Tuesday, hitting $33.31. 2,347,908 shares of the company’s stock were exchanged, compared to its average volume of 3,796,342. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.92 and a beta of 2.18. Momo has a twelve month low of $22.85 and a twelve month high of $49.38. The company’s fifty day simple moving average is $29.91. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.46.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.18. The firm had revenue of $554.73 million for the quarter, compared to analyst estimates of $531.78 million. Momo had a net margin of 15.96% and a return on equity of 23.10%. Momo’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, equities analysts expect that Momo will post 1.93 EPS for the current fiscal year.
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 talent shows, short videos, social games, and other video- and audio-based interactive experiences.
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