Momo (NASDAQ:MOMO) had its price objective reduced by analysts at Nomura from $55.00 to $41.00 in a research note issued on Friday. The firm currently has a “buy” rating on the information services provider’s stock. Nomura’s price target indicates a potential upside of 62.83% from the stock’s previous close.

A number of other research firms also recently issued reports on MOMO. Citigroup downgraded Momo from a “buy” rating to a “neutral” rating in a research note on Friday. Morgan Stanley downgraded Momo from an “overweight” rating to an “equal weight” rating and set a $26.70 price target on the stock. in a research note on Friday. ValuEngine downgraded Momo from a “sell” rating to a “strong sell” rating in a research note on Thursday. BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, TH Capital dropped their price target on Momo to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Momo has an average rating of “Buy” and a consensus target price of $47.05.

MOMO traded down $1.87 during trading on Friday, hitting $25.18. 187,675 shares of the company’s stock traded hands, compared to its average volume of 3,826,645. 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 $23.45 and a 12-month high of $54.24. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.65 and a beta of 1.84.

Momo (NASDAQ:MOMO) last issued its earnings results on Wednesday, December 5th. The information services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. Momo had a return on equity of 37.12% and a net margin of 25.40%. The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $535.30 million. During the same period last year, the business posted $0.45 EPS. The company’s revenue was up 51.4% compared to the same quarter last year. As a group, research analysts forecast that Momo will post 2.12 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in Momo by 66.5% in the 3rd quarter. Renaissance Technologies LLC now owns 7,485,200 shares of the information services provider’s stock worth $327,852,000 after purchasing an additional 2,990,500 shares during the period. BlackRock Inc. raised its holdings in Momo by 3.4% in the 2nd quarter. BlackRock Inc. now owns 6,672,385 shares of the information services provider’s stock worth $290,249,000 after purchasing an additional 219,866 shares during the period. Vanguard Group Inc. raised its holdings in Momo by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,527,945 shares of the information services provider’s stock worth $154,524,000 after purchasing an additional 127,769 shares during the period. Morgan Stanley raised its holdings in Momo by 3.7% in the 2nd quarter. Morgan Stanley now owns 2,050,368 shares of the information services provider’s stock worth $89,191,000 after purchasing an additional 72,564 shares during the period. Finally, Man Group plc raised its holdings in Momo by 73.1% in the 3rd quarter. Man Group plc now owns 1,989,364 shares of the information services provider’s stock worth $87,134,000 after purchasing an additional 840,073 shares during the period. Hedge funds and other institutional investors own 55.25% of the company’s stock.

Momo Company Profile

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.

See Also: What does cost of debt say about a company’s financial health?

Analyst Recommendations for Momo (NASDAQ:MOMO)

Receive News & Ratings for Momo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo and related companies with MarketBeat.com's FREE daily email newsletter.