Momo (MOMO) Announces Earnings Results
Momo (NASDAQ:MOMO) issued its earnings results on Wednesday. The information services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.09, Fidelity Earnings reports. Momo had a return on equity of 37.12% and a net margin of 25.40%. The company had revenue of $536.00 million during the quarter, compared to the consensus estimate of $535.30 million. During the same period in the previous year, the firm posted $0.45 earnings per share. Momo’s quarterly revenue was up 51.4% compared to the same quarter last year.
Shares of MOMO traded down $2.48 during mid-day trading on Friday, reaching $24.57. 10,492,025 shares of the company’s stock traded hands, compared to its average volume of 4,850,663. The stock has a market cap of $6.31 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.65 and a beta of 1.84. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21. Momo has a 12 month low of $24.02 and a 12 month high of $54.24.
A number of brokerages have commented on MOMO. Nomura decreased their target price on Momo from $55.00 to $41.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley cut Momo from an “overweight” rating to an “equal weight” rating and set a $26.70 price target on the stock. in a report on Friday. Citigroup cut Momo from a “buy” rating to a “neutral” rating in a report on Friday. ValuEngine raised Momo from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, BidaskClub raised Momo from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. Momo has an average rating of “Buy” and an average price target of $47.05.
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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