Momo Inc (NASDAQ:MOMO) shares were down 5.1% during mid-day trading on Tuesday . The stock traded as low as $25.07 and last traded at $25.13. Approximately 5,628,570 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 4,538,997 shares. The stock had previously closed at $26.47.

Several research analysts recently issued reports on MOMO shares. JPMorgan Chase & Co. dropped their price objective on Momo to $30.00 in a research note on Wednesday, November 29th. TheStreet raised Momo from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Benchmark lowered their target price on Momo from $48.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, November 29th. Deutsche Bank set a $43.00 target price on Momo and gave the stock a “buy” rating in a report on Tuesday, November 28th. Finally, Zacks Investment Research upgraded Momo from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Momo has an average rating of “Buy” and a consensus target price of $41.23.

The firm has a market cap of $4,990.00, a price-to-earnings ratio of 17.10 and a beta of 1.54.

Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07. Momo had a return on equity of 39.60% and a net margin of 25.88%. The firm had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. The company’s quarterly revenue was up 125.5% on a year-over-year basis. equities analysts expect that Momo Inc will post 1.47 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BT Investment Management Ltd lifted its holdings in shares of Momo by 661.7% during 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 last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 1,283,287 shares during the last quarter. Light Street Capital Management LLC lifted its holdings in shares of Momo by 23.1% during the 2nd quarter. Light Street Capital Management LLC now owns 4,800,000 shares of the information services provider’s stock valued at $177,408,000 after purchasing an additional 900,000 shares during the last quarter. BlackRock Inc. lifted its holdings 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 purchasing an additional 3,450,915 shares during the last quarter. Finally, Greenwoods Asset Management Ltd lifted its holdings in shares of Momo by 11.0% during the 3rd quarter. Greenwoods Asset Management Ltd now owns 2,200,125 shares of the information services provider’s stock valued at $68,952,000 after purchasing an additional 218,000 shares during the last quarter. Hedge funds and other institutional investors own 39.75% of the company’s stock.

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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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