Momo (MOMO) Coverage Initiated by Analysts at UBS Group
UBS Group began coverage on shares of Momo (NASDAQ:MOMO) in a research note published on Tuesday morning, thefly.com reports. The firm issued a hold rating and a $28.00 target price on the information services provider’s stock.
MOMO has been the subject of a number of other research reports. Vetr lowered Momo from a strong-buy rating to a buy rating and set a $42.25 price objective for the company. in a research report on Monday, September 4th. Jefferies Group restated a buy rating and set a $54.00 price objective on shares of Momo in a research report on Tuesday, October 3rd. Deutsche Bank set a $43.00 price objective on Momo and gave the company a buy rating in a research report on Tuesday, November 28th. Zacks Investment Research upgraded Momo from a hold rating to a buy rating and set a $35.00 price objective for the company in a research report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on Momo to $30.00 in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $41.23.
Momo (MOMO) opened at $27.83 on Tuesday. The firm has a market capitalization of $5,335.79, a PE ratio of 18.80 and a beta of 1.55. Momo has a 12-month low of $19.20 and a 12-month high of $46.69.
Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.07. The firm had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. Momo had a return on equity of 39.60% and a net margin of 25.88%. The business’s revenue was up 125.5% on a year-over-year basis. analysts forecast that Momo will post 1.47 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Momo by 2,664.8% in the 2nd quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock valued at $132,331,000 after acquiring an additional 3,450,915 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in Momo in the second quarter worth about $498,000. Swiss National Bank lifted its stake in Momo by 38.8% in the third quarter. Swiss National Bank now owns 242,486 shares of the information services provider’s stock worth $7,600,000 after purchasing an additional 67,727 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in Momo in the third quarter worth about $256,000. Finally, BRILLIANCE ASSET MANAGEMENT Ltd bought a new stake in Momo in the second quarter worth about $28,749,000. 39.75% of the stock is owned by hedge funds and other institutional investors.
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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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