Momo Inc. (MOMO) Rating Reiterated by Jefferies Group LLC
Momo Inc. (NASDAQ:MOMO)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a research note issued on Tuesday. They currently have a $54.00 price target on the information services provider’s stock. Jefferies Group LLC’s target price indicates a potential upside of 69.97% from the stock’s current price.
A number of other analysts have also commented on the company. Goldman Sachs Group, Inc. (The) started coverage on Momo in a report on Wednesday, August 30th. They set a “buy” rating and a $56.00 price target on the stock. BidaskClub upgraded Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Vetr lowered Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 price target on the stock. in a report on Monday, September 4th. Standpoint Research started coverage on Momo in a report on Wednesday, August 30th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Zacks Investment Research lowered Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $41.81.
Shares of Momo (NASDAQ MOMO) traded down 0.69% during midday trading on Tuesday, hitting $31.55. The stock had a trading volume of 2,189,561 shares. Momo has a 52 week low of $16.73 and a 52 week high of $46.69.
Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $312.20 million for the quarter, compared to analyst estimates of $287.84 million. Momo had a return on equity of 38.94% and a net margin of 27.00%. Momo’s revenue for the quarter was up 31120.0% compared to the same quarter last year. Analysts expect that Momo will post $1.67 earnings per share for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of MOMO. First Trust Advisors LP raised its stake in shares of 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 during the period. BNP Paribas Arbitrage SA raised its stake in shares of Momo by 22,300.0% in the first quarter. BNP Paribas Arbitrage SA now owns 15,680 shares of the information services provider’s stock valued at $534,000 after buying an additional 15,610 shares during the period. Sei Investments Co. bought a new stake in shares of Momo in the first quarter valued at $1,681,000. Ameriprise Financial Inc. bought a new stake in shares of Momo in the first quarter valued at $493,000. Finally, State of Wisconsin Investment Board bought a new stake in shares of Momo in the first quarter valued at $2,855,000. Hedge funds and other institutional investors own 39.14% of the company’s stock.
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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