Momo (MOMO) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Momo (NASDAQ:MOMO) from a sell rating to a hold rating in a research report report published on Tuesday.
A number of other research analysts have also weighed in on MOMO. UBS Group began coverage on Momo in a report on Tuesday, January 2nd. They set a hold rating and a $28.00 target price on the stock. Zacks Investment Research lowered Momo from a hold rating to a sell rating in a report on Wednesday, January 3rd. Vetr raised Momo from a buy rating to a strong-buy rating and set a $42.17 target price on the stock in a report on Wednesday, September 13th. Benchmark decreased their target price on Momo from $48.00 to $38.00 and set a buy rating on the stock in a report on Wednesday, November 29th. Finally, TheStreet upgraded Momo from a c+ rating to a b- rating in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $41.23.
Momo (NASDAQ MOMO) traded down $0.40 during mid-day trading on Tuesday, hitting $26.47. The company had a trading volume of 4,374,698 shares, compared to its average volume of 4,810,000. The firm has a market cap of $5,260.00, a price-to-earnings ratio of 18.01 and a beta of 1.54. Momo has a 1-year low of $21.30 and a 1-year high of $46.69.
Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, November 28th. The information services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. The business had revenue of $354.10 million for 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%. Momo’s revenue was up 125.5% compared to the same quarter last year. sell-side analysts predict that Momo will post 1.47 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOMO. BT Investment Management Ltd boosted its stake in Momo by 661.7% in the 3rd quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock valued at $238,534,000 after purchasing an additional 6,611,904 shares during the period. BlackRock Inc. lifted its position in shares of Momo by 2,664.8% during 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 period. Greenwoods Asset Management Ltd lifted its position in shares of Momo by 2,615.2% during the 2nd quarter. Greenwoods Asset Management Ltd now owns 1,982,125 shares of the information services provider’s stock valued at $73,259,000 after acquiring an additional 1,909,125 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Momo by 33.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,102,447 shares of the information services provider’s stock valued at $165,524,000 after acquiring an additional 1,283,287 shares during the period. Finally, State Street Corp lifted its position in shares of Momo by 3,342.6% during the 2nd quarter. State Street Corp now owns 1,096,159 shares of the information services provider’s stock valued at $40,512,000 after acquiring an additional 1,064,318 shares during the period. Institutional investors and hedge funds own 39.75% 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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