Momo Inc (NASDAQ:MOMO) gapped up before the market opened on Tuesday . The stock had previously closed at $22.88, but opened at $20.95. Momo shares last traded at $20.63, with a volume of 4,707,599 shares traded.
Several research analysts have commented on MOMO shares. Nomura lowered Momo from a “buy” rating to a “neutral” rating in a research report on Friday, May 29th. Benchmark cut their price target on Momo from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research report on Thursday, June 18th. Nomura Securities reaffirmed a “buy” rating and set a $26.00 price target on shares of Momo in a research report on Monday, March 23rd. Finally, UBS Group cut their price target on Momo from $34.00 to $33.50 and set a “buy” rating on the stock in a research report on Monday, May 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $33.13.
The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.84 and a beta of 1.69. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $19.48 and a 200-day moving average price of $26.04.
Momo (NASDAQ:MOMO) last released its earnings results on Thursday, May 28th. The information services provider reported $3.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $3.00. Momo had a return on equity of 25.51% and a net margin of 19.07%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, research analysts expect that Momo Inc will post 1.7 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of MOMO. Americana Partners LLC purchased a new stake in shares of Momo in the fourth quarter valued at approximately $35,000. US Bancorp DE boosted its position in Momo by 14.7% during the first quarter. US Bancorp DE now owns 6,755 shares of the information services provider’s stock worth $147,000 after purchasing an additional 868 shares in the last quarter. FDx Advisors Inc. purchased a new stake in Momo during the first quarter worth $166,000. Brinker Capital Inc. purchased a new stake in Momo during the first quarter worth $208,000. Finally, Advisors Asset Management Inc. boosted its position in Momo by 90.9% during the fourth quarter. Advisors Asset Management Inc. now owns 6,280 shares of the information services provider’s stock worth $210,000 after purchasing an additional 2,991 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.
About Momo (NASDAQ:MOMO)
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 talent shows, short videos, social games, and other video- and audio-based interactive experiences.
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