Brokerages Set Momo Inc (MOMO) Price Target at $41.81
Momo Inc (NASDAQ:MOMO) has been given a consensus rating of “Buy” by the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $41.81.
MOMO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet raised shares of Momo from a “c+” rating to a “b” rating in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Momo in a report on Wednesday, August 16th. BidaskClub raised shares of Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Vetr lowered shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 target price for the company. in a report on Monday, September 4th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Momo in the second quarter valued at about $101,000. D.A. Davidson & CO. purchased a new stake in shares of Momo in the second quarter valued at about $136,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Momo in the second quarter valued at about $155,000. Alta Advisers Ltd purchased a new stake in shares of Momo in the second quarter valued at about $156,000. Finally, ETF Managers Group LLC purchased a new stake in shares of Momo in the second quarter valued at about $200,000. 39.14% of the stock is owned by hedge funds and other institutional investors.
Momo (NASDAQ MOMO) traded up 1.78% during trading on Friday, reaching $31.97. 2,957,203 shares of the company traded hands. The firm has a 50-day moving average price of $35.83 and a 200-day moving average price of $38.43. Momo has a 52 week low of $16.73 and a 52 week high of $46.69.
Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $312.20 million during the quarter, compared to analysts’ expectations of $287.84 million. Momo had a net margin of 19.23% and a return on equity of 31.76%. The firm’s quarterly revenue was up 31120.0% compared to the same quarter last year. Analysts forecast that Momo will post $1.67 EPS for the current year.
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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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