Momo Inc. (MOMO) Stock Rating Upgraded by BidaskClub
Momo Inc. (NASDAQ:MOMO) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
Several other research analysts have also commented on the stock. Vetr raised shares of Momo from a “buy” rating to a “strong-buy” rating and set a $42.54 price target for the company in a report on Tuesday, April 11th. Benchmark Co. began coverage on shares of Momo in a report on Tuesday, April 18th. They issued a “buy” rating and a $44.00 price target for the company. Jefferies Group LLC reaffirmed a “buy” rating on shares of Momo in a report on Tuesday, April 11th. J P Morgan Chase & Co lowered shares of Momo from an “overweight” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday, May 24th. Finally, Deutsche Bank AG raised shares of Momo from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $52.00 in a report on Wednesday, May 24th. Two research 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 stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.95.
Shares of Momo (MOMO) traded down 2.10% during midday trading on Thursday, hitting $40.50. 1,899,840 shares of the stock traded hands. Momo has a one year low of $12.43 and a one year high of $45.95.
Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The company had revenue of $265.20 million during the quarter, compared to the consensus estimate of $245.48 million. Momo had a net margin of 28.59% and a return on equity of 36.36%. The business’s revenue was up 421.0% compared to the same quarter last year. On average, equities research analysts expect that Momo will post $1.56 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC purchased a new position in Momo during the first quarter worth about $201,000. DekaBank Deutsche Girozentrale purchased a new position in Momo during the first quarter worth about $219,000. GRATRY & Co LLC purchased a new position in Momo during the first quarter worth about $274,000. HighTower Advisors LLC purchased a new position in Momo during the first quarter worth about $276,000. Finally, Sheets Smith Wealth Management purchased a new position in Momo during the first quarter worth about $287,000. 40.33% 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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