Momo (NASDAQ:MOMO) Trading Down 6.6%

Momo Inc (NASDAQ:MOMO)’s share price was down 6.6% during trading on Thursday . The company traded as low as $31.46 and last traded at $31.74, approximately 2,876,862 shares were traded during trading. A decline of 18% from the average daily volume of 3,522,616 shares. The stock had previously closed at $33.97.

Several equities research analysts recently issued reports on the stock. Citigroup upgraded shares of Momo from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $40.00 in a research note on Tuesday, May 28th. Zacks Investment Research upgraded shares of Momo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 24th. BidaskClub downgraded shares of Momo from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. ValuEngine upgraded shares of Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Nomura raised their target price on shares of Momo from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Momo currently has an average rating of “Buy” and an average price target of $42.43.

The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.91 and a beta of 2.29. The stock’s 50 day moving average price is $34.26. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.46.

Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 28th. The information services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The business had revenue of $554.73 million during the quarter, compared to the consensus estimate of $531.78 million. Momo had a net margin of 15.96% and a return on equity of 23.10%. Momo’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. Research analysts forecast that Momo Inc will post 1.96 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of MOMO. Financial Gravity Wealth Inc. acquired a new stake in Momo during the first quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in Momo by 21.5% during the first quarter. Quadrant Capital Group LLC now owns 1,694 shares of the information services provider’s stock worth $64,000 after acquiring an additional 300 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Momo by 55.6% during the first quarter. Advisors Asset Management Inc. now owns 2,014 shares of the information services provider’s stock worth $77,000 after acquiring an additional 720 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Momo by 242.0% during the first quarter. Daiwa Securities Group Inc. now owns 3,830 shares of the information services provider’s stock worth $146,000 after acquiring an additional 2,710 shares during the last quarter. Finally, NumerixS Investment Technologies Inc lifted its position in Momo by 44.8% during the first quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the information services provider’s stock worth $158,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Momo Company Profile (NASDAQ:MOMO)

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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