Momo Inc (MOMO) Receives Consensus Rating of “Buy” from Brokerages
Momo Inc (NASDAQ:MOMO) has been assigned an average rating of “Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $52.65.
Several equities research analysts have recently commented on the company. BidaskClub raised Momo from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th. Standpoint Research downgraded Momo from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a report on Monday, June 18th. Jefferies Financial Group upped their target price on Momo to $60.00 and gave the company a “buy” rating in a report on Monday, June 11th. ValuEngine raised Momo from a “hold” rating to a “buy” rating in a report on Friday. Finally, Benchmark upped their target price on Momo from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 30th.
Shares of Momo stock traded up $0.50 during trading on Friday, hitting $47.37. The stock had a trading volume of 4,625,001 shares, compared to its average volume of 4,682,990. Momo has a fifty-two week low of $22.49 and a fifty-two week high of $54.24. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 0.87 and a beta of 1.58. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.21.
Institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. purchased a new stake in Momo in the 2nd quarter worth about $135,000. Resources Investment Advisors Inc. purchased a new stake in Momo in the 1st quarter worth about $157,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in Momo in the 2nd quarter worth about $213,000. ING Groep NV purchased a new stake in Momo in the 1st quarter worth about $224,000. Finally, Teacher Retirement System of Texas purchased a new stake in Momo in the 2nd quarter worth about $242,000. 53.47% of the stock is owned by hedge funds and other institutional investors.
Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.
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