Benchmark Cuts Hello Group (NASDAQ:MOMO) Price Target to $13.00

Hello Group (NASDAQ:MOMO) had its price objective lowered by Benchmark from $15.00 to $13.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

MOMO has been the topic of several other research reports. StockNews.com cut Hello Group from a hold rating to a sell rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. cut Hello Group from an overweight rating to a neutral rating and lowered their price objective for the stock from $13.00 to $6.00 in a research report on Monday, June 3rd. Citigroup decreased their price target on Hello Group from $6.40 to $5.70 and set a neutral rating on the stock in a research report on Wednesday, May 29th. Morgan Stanley cut Hello Group from an equal weight rating to an underweight rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group raised their price target on Hello Group from $6.50 to $7.00 and gave the stock a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $7.93.

Hello Group Stock Down 0.6 %

MOMO opened at $6.38 on Wednesday. Hello Group has a 1-year low of $4.79 and a 1-year high of $7.89. The stock’s fifty day simple moving average is $6.61 and its 200 day simple moving average is $6.23. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.17. The stock has a market cap of $924.46 million, a PE ratio of 5.80, a price-to-earnings-growth ratio of 1.98 and a beta of 0.51.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $0.25 by $2.13. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Hello Group had a return on equity of 13.61% and a net margin of 13.38%. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. As a group, research analysts expect that Hello Group will post 0.75 earnings per share for the current year.

Institutional Trading of Hello Group

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in Hello Group by 14.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,274,996 shares of the information services provider’s stock valued at $29,711,000 after buying an additional 555,602 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in Hello Group by 994.2% in the first quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock valued at $10,043,000 after buying an additional 1,469,500 shares in the last quarter. Trexquant Investment LP boosted its stake in Hello Group by 177.9% in the fourth quarter. Trexquant Investment LP now owns 286,566 shares of the information services provider’s stock valued at $1,992,000 after buying an additional 183,430 shares in the last quarter. Sei Investments Co. boosted its stake in Hello Group by 26.3% in the first quarter. Sei Investments Co. now owns 448,013 shares of the information services provider’s stock valued at $2,782,000 after buying an additional 93,238 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Hello Group by 33.5% in the first quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock valued at $14,144,000 after buying an additional 571,840 shares in the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.

About Hello Group

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.