Momo (NASDAQ:MOMO) Shares Gap Up to $33.45

Shares of Momo Inc (NASDAQ:MOMO) gapped up prior to trading on Friday . The stock had previously closed at $32.36, but opened at $33.45. Momo shares last traded at $35.06, with a volume of 3,816,023 shares traded.

A number of equities research analysts have recently weighed in on the company. Nomura lifted their price objective on Momo from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. ValuEngine lowered Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday. Citigroup set a $73.00 price objective on Esperion Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Zacks Investment Research upgraded HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $42.43.

The stock has a market cap of $6.66 billion, a P/E ratio of 17.89, a PEG ratio of 0.86 and a beta of 2.30. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $32.96.

Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, May 28th. The information services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.18. The company had revenue of $554.73 million during the quarter, compared to analysts’ expectations of $531.78 million. Momo had a return on equity of 23.10% and a net margin of 15.96%. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. As a group, research analysts predict that Momo Inc will post 1.98 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. purchased a new position in Momo during the first quarter valued at $25,000. Quadrant Capital Group LLC raised its stake 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 valued at $64,000 after buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. raised its stake 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 valued at $77,000 after buying an additional 720 shares during the last quarter. Daiwa Securities Group Inc. raised its stake 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 valued at $146,000 after buying an additional 2,710 shares during the last quarter. Finally, NumerixS Investment Technologies Inc raised its stake 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 valued at $158,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 58.39% of the company’s stock.

About Momo (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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