Investors Buy Shares of Momo Inc. (MOMO) on Weakness
Investors purchased shares of Momo Inc. (NASDAQ:MOMO) on weakness during trading hours on Wednesday. $104.26 million flowed into the stock on the tick-up and $27.00 million flowed out of the stock on the tick-down, for a money net flow of $77.26 million into the stock. Of all equities tracked, Momo had the 6th highest net in-flow for the day. Momo traded down ($0.45) for the day and closed at $45.35
A number of analysts have commented on MOMO shares. TheStreet upgraded shares of Momo from a “c+” rating to a “b” rating in a research report on Monday. Benchmark Co. started coverage on shares of Momo in a research report on Tuesday, April 18th. They set a “buy” rating and a $44.00 price target on the stock. Vetr downgraded shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.54 price target on the stock. in a research report on Monday, April 17th. Nomura restated a “buy” rating and set a $43.00 price target on shares of Momo in a research report on Wednesday, April 12th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Momo in a research report on Tuesday, April 11th. Two investment 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.95.
The company has a market cap of $8.84 billion, a price-to-earnings ratio of 41.99 and a beta of 1.91.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.12. The company had revenue of $265.20 million for the quarter, compared to analyst estimates of $245.48 million. Momo had a net margin of 28.59% and a return on equity of 36.36%. The company’s revenue for the quarter was up 421.0% compared to the same quarter last year. On average, analysts predict that Momo Inc. will post $1.56 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of MOMO. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Momo during the second quarter valued at about $155,000. Alta Advisers Ltd acquired a new position in shares of Momo during the second quarter valued at about $156,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Momo during the first quarter valued at about $201,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Momo during the first quarter valued at about $219,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Momo during the second quarter valued at about $259,000. 42.51% of the stock is currently owned by institutional investors.
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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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