Equities research analysts at Citigroup began coverage on shares of Momo (NASDAQ:MOMO) in a research report issued on Tuesday. The firm set a “buy” rating on the information services provider’s stock.
Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of Momo to $30.00 in a research note on Wednesday, November 29th. Deutsche Bank set a $43.00 price objective on shares of Momo and gave the stock a “buy” rating in a research note on Tuesday, November 28th. UBS Group initiated coverage on shares of Momo in a research note on Tuesday, January 2nd. They set a “hold” rating and a $28.00 price objective on the stock. Finally, TheStreet raised shares of Momo from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.09.
Momo (NASDAQ MOMO) opened at $31.05 on Tuesday. The stock has a market cap of $6,165.85, a PE ratio of 20.98 and a beta of 1.80. Momo has a one year low of $22.49 and a one year high of $46.69.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. The company had revenue of $354.10 million for the quarter, compared to analyst estimates of $342.48 million. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company’s revenue for the quarter was up 125.5% compared to the same quarter last year. equities analysts predict that Momo will post 1.47 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Castleark Management LLC bought a new position in Momo in the fourth quarter valued at approximately $144,000. Macquarie Group Ltd. lifted its stake in Momo by 17.4% in the fourth quarter. Macquarie Group Ltd. now owns 94,300 shares of the information services provider’s stock valued at $5,402,000 after buying an additional 14,000 shares in the last quarter. LPL Financial LLC lifted its stake in Momo by 10.7% in the fourth quarter. LPL Financial LLC now owns 27,938 shares of the information services provider’s stock valued at $684,000 after buying an additional 2,690 shares in the last quarter. Kenmare Capital Partners L.L.C. bought a new position in Momo in the fourth quarter valued at approximately $490,000. Finally, Yiheng Capital LLC lifted its stake in Momo by 73.2% in the fourth quarter. Yiheng Capital LLC now owns 893,340 shares of the information services provider’s stock valued at $21,869,000 after buying an additional 377,563 shares in the last quarter. 38.11% of the stock is currently owned by hedge funds and other institutional investors.
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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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