Zacks Investment Research upgraded shares of Momo Inc. (NASDAQ:MOMO) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 25th. Zacks Investment Research currently has $35.00 target price on the information services provider’s stock.
According to Zacks, “Momo Inc. provides mobile-based social networking platform primarily in the Peoples Republic of China. Its platform includes mobile applications and related features, functionalities, tools and services. The Company offers two types of mobile game services non-exclusive mobile game services and exclusive mobile game services. It also provides membership subscription and other services which include paid emoticons and mobile marketing services. Momo Inc. is headquartered in Beijing, the Peoples Republic of China. “
A number of other analysts also recently weighed in on the company. Jefferies Group LLC reiterated a buy rating and set a $54.00 target price on shares of Momo in a research report on Tuesday, October 3rd. Vetr raised Momo from a buy rating to a strong-buy rating and set a $42.17 price target for the company in a report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) initiated coverage on Momo in a report on Wednesday, August 30th. They issued a buy rating and a $56.00 target price for the company. Standpoint Research started coverage on Momo in a report on Wednesday, August 30th. They issued a buy rating and a $44.00 price target on the stock. Finally, TheStreet raised Momo from a c+ rating to a b rating in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Momo presently has a consensus rating of Buy and a consensus target price of $43.30.
Shares of Momo (MOMO) opened at $28.35 on Wednesday. The stock has a market capitalization of $5,513.34, a P/E ratio of 21.98 and a beta of 1.77. Momo has a 1 year low of $16.73 and a 1 year high of $46.69.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company had revenue of $312.20 million during the quarter, compared to the consensus estimate of $287.84 million. Momo had a return on equity of 38.94% and a net margin of 27.00%. Momo’s quarterly revenue was up 31120.0% compared to the same quarter last year. equities research analysts anticipate that Momo will post 1.46 earnings per share for the current year.
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Several large investors have recently bought and sold shares of MOMO. BT Investment Management Ltd raised its holdings in shares of Momo by 661.7% during the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock worth $238,534,000 after purchasing an additional 6,611,904 shares during the last quarter. BlackRock Inc. increased its holdings in Momo by 2,664.8% in the second 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 in the last quarter. Acadian Asset Management LLC increased its holdings in Momo by 113.3% in the second quarter. Acadian Asset Management LLC now owns 4,264,640 shares of the information services provider’s stock valued at $157,624,000 after buying an additional 2,265,665 shares in the last quarter. Greenwoods Asset Management Ltd increased its holdings in Momo by 2,615.2% in the second quarter. Greenwoods Asset Management Ltd now owns 1,982,125 shares of the information services provider’s stock valued at $73,259,000 after buying an additional 1,909,125 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Momo by 33.6% in the third quarter. JPMorgan Chase & Co. now owns 5,102,447 shares of the information services provider’s stock valued at $165,524,000 after buying an additional 1,283,287 shares in the last quarter. Institutional investors and hedge funds own 39.93% 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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