Momo (NASDAQ:MOMO)‘s stock had its “buy” rating reissued by analysts at T.H. Capital in a research report issued on Friday.
Several other analysts have also issued reports on MOMO. UBS initiated coverage on Momo in a report on Tuesday, January 2nd. They set a “hold” rating and a $28.00 price objective for the company. Zacks Investment Research lowered Momo from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Jefferies Group reiterated a “buy” rating and set a $45.00 price objective on shares of Momo in a report on Wednesday, January 24th. Finally, JPMorgan Chase upgraded Momo from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $43.35.
Shares of NASDAQ:MOMO traded down $0.69 during midday trading on Friday, hitting $34.70. 4,161,820 shares of the stock were exchanged, compared to its average volume of 5,431,738. Momo has a 52-week low of $22.49 and a 52-week high of $46.69. The firm has a market cap of $7,450.57, a price-to-earnings ratio of 22.69 and a beta of 1.55.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, March 7th. The information services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.11. Momo had a return on equity of 36.58% and a net margin of 24.17%. The business had revenue of $386.40 million during the quarter, compared to analyst estimates of $381.17 million. During the same period last year, the company earned $0.44 earnings per share. Momo’s quarterly revenue was up 57.0% compared to the same quarter last year. sell-side analysts anticipate that Momo will post 1.94 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in Momo by 53.3% during the third quarter. Stifel Financial Corp now owns 45,712 shares of the information services provider’s stock valued at $1,432,000 after buying an additional 15,892 shares in the last quarter. Elephas Investment Management Ltd bought a new position in shares of Momo in the fourth quarter worth about $5,141,000. APG Asset Management N.V. increased its stake in shares of Momo by 20.3% in the fourth quarter. APG Asset Management N.V. now owns 573,500 shares of the information services provider’s stock worth $11,692,000 after purchasing an additional 96,900 shares during the period. Hamilton Lane Advisors LLC bought a new position in shares of Momo in the fourth quarter worth about $619,000. Finally, Boston Partners bought a new position in shares of Momo in the fourth quarter worth about $39,239,000. Institutional investors own 38.33% of the company’s stock.
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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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