Citigroup Begins Coverage on Momo (MOMO)
Stock analysts at Citigroup began coverage on shares of Momo (NASDAQ:MOMO) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the information services provider’s stock.
A number of other brokerages have also weighed in on MOMO. BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of Momo from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Jefferies Group reiterated a “buy” rating and issued a $45.00 price objective on shares of Momo in a report on Wednesday, January 24th. Finally, Deutsche Bank set a $43.00 price objective on shares of Momo and gave the company a “buy” rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Momo has an average rating of “Buy” and an average price target of $41.09.
Momo (NASDAQ MOMO) opened at $31.05 on Tuesday. Momo has a one year low of $22.49 and a one year high of $46.69. The firm has a market cap of $6,165.85, a P/E ratio of 20.98 and a beta of 1.80.
Several hedge funds and other institutional investors have recently bought and sold shares of MOMO. BT Investment Management Ltd raised its holdings in shares of Momo by 661.7% in the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock valued at $238,534,000 after purchasing an additional 6,611,904 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Momo by 362.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,705,009 shares of the information services provider’s stock worth $66,219,000 after buying an additional 2,119,450 shares during the last quarter. Boston Partners acquired a new position in Momo during the fourth quarter worth $39,239,000. JPMorgan Chase & Co. increased its holdings in Momo by 33.6% during the third quarter. JPMorgan Chase & Co. now owns 5,102,447 shares of the information services provider’s stock worth $165,524,000 after buying an additional 1,283,287 shares during the last quarter. Finally, KEYWISE CAPITAL MANAGEMENT Ltd increased its holdings in Momo by 565.0% during the fourth quarter. KEYWISE CAPITAL MANAGEMENT Ltd now owns 1,286,800 shares of the information services provider’s stock worth $31,501,000 after buying an additional 1,093,300 shares during the last quarter. Institutional investors own 38.11% 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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