Jefferies Group LLC Reiterates Buy Rating for Momo Inc. (MOMO)
Momo Inc. (NASDAQ:MOMO)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Wednesday. They presently have a $54.00 price target on the information services provider’s stock. Jefferies Group LLC’s target price points to a potential upside of 22.09% from the stock’s current price.
A number of other analysts also recently issued reports on the company. TheStreet raised Momo from a “c+” rating to a “b” rating in a research report on Monday, August 7th. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised Momo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. HSBC Holdings plc raised their target price on Momo from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Deutsche Bank AG raised Momo from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $52.00 in a research report on Wednesday, May 24th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $39.95.
Shares of Momo (NASDAQ:MOMO) opened at 44.23 on Wednesday. Momo has a 1-year low of $14.88 and a 1-year high of $46.69.
Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.12. Momo had a return on equity of 36.36% and a net margin of 28.59%. The business had revenue of $265.20 million during the quarter, compared to the consensus estimate of $245.48 million. The firm’s quarterly revenue was up 421.0% compared to the same quarter last year. Equities analysts expect that Momo will post $1.57 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in Momo during the first quarter valued at about $219,000. American Century Companies Inc. acquired a new stake in Momo during the first quarter valued at about $10,140,000. First Trust Advisors LP raised its stake in Momo by 35.8% in the first quarter. First Trust Advisors LP now owns 63,832 shares of the information services provider’s stock valued at $2,175,000 after buying an additional 16,842 shares in the last quarter. Wells Fargo & Company MN raised its stake in Momo by 4,945.2% in the first quarter. Wells Fargo & Company MN now owns 1,050,973 shares of the information services provider’s stock valued at $35,807,000 after buying an additional 1,030,142 shares in the last quarter. Finally, Tiger Pacific Capital LP acquired a new stake in Momo during the first quarter valued at about $7,961,000. 43.47% of the stock is owned by hedge funds and other institutional investors.
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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