Dai Ichi Life Insurance Company Ltd purchased a new stake in Momo Inc. (NASDAQ:MOMO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,159 shares of the information services provider’s stock, valued at approximately $523,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bfsg LLC bought a new stake in Momo during the 2nd quarter worth approximately $203,000. Private Advisor Group LLC bought a new stake in Momo during the 2nd quarter worth approximately $286,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Momo during the 2nd quarter worth approximately $20,277,000. Cim LLC bought a new stake in Momo during the 2nd quarter worth approximately $415,000. Finally, Sawtooth Solutions LLC bought a new stake in Momo during the 2nd quarter worth approximately $373,000. 39.16% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 target price (up previously from $52.00) on shares of Momo in a report on Friday, July 14th. BidaskClub raised shares of Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. TheStreet raised shares of Momo from a “c+” rating to a “b” rating in a report on Monday, August 7th. J P Morgan Chase & Co lowered shares of Momo from an “overweight” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Wednesday, May 24th. Finally, Vetr lowered shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 target price on the stock. in a report on Monday, September 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $41.64.
Momo Inc. (MOMO) opened at 36.57 on Friday. The stock has a 50 day moving average of $40.52 and a 200-day moving average of $38.16. Momo Inc. has a one year low of $16.73 and a one year high of $46.69. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 28.68 and a beta of 1.94.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. Momo had a net margin of 27.00% and a return on equity of 38.94%. The company’s revenue was up 31120.0% on a year-over-year basis. On average, equities analysts predict that Momo Inc. will post $1.67 EPS for the current fiscal year.
Momo Company Profile
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.
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