Momo Inc. (NASDAQ:MOMO) Now Covered by Analysts at Standpoint Research

Standpoint Research started coverage on shares of Momo Inc. (NASDAQ:MOMO) in a report released on Wednesday, August 30th, Marketbeat.com reports. The firm issued a buy rating and a $44.00 target price on the information services provider’s stock.

MOMO has been the topic of several other reports. Vetr upgraded shares of Momo from a hold rating to a buy rating and set a $46.24 price target on the stock in a research note on Monday, May 22nd. Jefferies Group LLC restated a buy rating and issued a $52.00 price target on shares of Momo in a research note on Tuesday, June 13th. Deutsche Bank AG upgraded shares of Momo from a hold rating to a buy rating and increased their price objective for the stock from $30.00 to $52.00 in a research note on Wednesday, May 24th. J P Morgan Chase & Co downgraded shares of Momo from an overweight rating to a neutral rating and set a $44.00 price objective on the stock. in a research note on Wednesday, May 24th. Finally, BOCOM International Holdings started coverage on shares of Momo in a research note on Monday, May 8th. They set a buy rating and a $46.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $41.64.

Shares of Momo (NASDAQ MOMO) opened at 36.57 on Wednesday. The company’s 50-day moving average is $40.52 and its 200 day moving average is $38.16. Momo has a 1-year low of $16.73 and a 1-year high of $46.69. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 28.68 and a beta of 1.94.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Momo had a net margin of 27.00% and a return on equity of 38.94%. The business had revenue of $312.20 million for the quarter, compared to the consensus estimate of $287.84 million. Momo’s revenue for the quarter was up 31120.0% compared to the same quarter last year. On average, equities research analysts expect that Momo will post $1.67 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its holdings in Momo by 818.0% in the 1st quarter. Morgan Stanley now owns 11,834,761 shares of the information services provider’s stock valued at $403,211,000 after buying an additional 10,545,573 shares during the last quarter. Laurion Capital Management LP bought a new position in Momo in the 1st quarter valued at approximately $132,531,000. BlackRock Inc. raised its holdings in 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 buying an additional 3,450,915 shares during the last quarter. OZ Management LP bought a new position in Momo in the 1st quarter valued at approximately $101,658,000. Finally, Tairen Capital Ltd raised its holdings in Momo by 194.7% in the 1st quarter. Tairen Capital Ltd now owns 3,663,687 shares of the information services provider’s stock valued at $124,822,000 after buying an additional 2,420,520 shares during the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

About Momo

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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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