Deutsche Bank set a $46.00 price objective on Momo (NASDAQ:MOMO) in a research note published on Wednesday, March 7th. The brokerage currently has a buy rating on the information services provider’s stock.
Several other research firms have also weighed in on MOMO. BidaskClub lowered shares of Momo from a hold rating to a sell rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Momo from a sell rating to a hold rating in a research note on Thursday, February 1st. Citigroup initiated coverage on shares of Momo in a research note on Tuesday, February 20th. They set a buy rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Momo from a neutral rating to an overweight rating in a research note on Friday, January 26th. Finally, Jefferies Group reiterated a buy rating and issued a $45.00 price target on shares of Momo in a research note on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $41.70.
Momo (MOMO) traded up $0.45 on Wednesday, reaching $37.27. 3,880,614 shares of the company traded hands, compared to its average volume of 6,000,000. The company has a market cap of $7,400.00, a PE ratio of 24.36 and a beta of 1.68. Momo has a 1-year low of $22.49 and a 1-year high of $46.69.
Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Wednesday, March 7th. The information services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Momo had a net margin of 24.17% and a return on equity of 36.58%. The firm had revenue of $386.40 million for the quarter, compared to analysts’ expectations of $381.17 million. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 57.0% on a year-over-year basis. research analysts expect that Momo will post 1.9 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of MOMO. Castleark Management LLC bought a new stake in shares of Momo during the 4th quarter worth approximately $144,000. Rational Advisors LLC lifted its stake in Momo by 108.7% in the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 2,500 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Momo by 213.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock valued at $184,000 after purchasing an additional 5,125 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in Momo in the 4th quarter valued at approximately $237,000. Finally, Caxton Associates LP bought a new position in Momo in the 3rd quarter valued at approximately $254,000. 38.56% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This article was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://ledgergazette.com/2018/03/14/momo-momo-given-a-46-00-price-target-at-deutsche-bank.html.
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.
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.