Momo Inc (MOMO) Upgraded to B- by TheStreet

TheStreet upgraded shares of Momo Inc (NASDAQ:MOMO) from a c rating to a b- rating in a research note released on Thursday, April 13th.

MOMO has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Momo from a buy rating to a hold rating in a report on Wednesday, January 4th. Vetr upgraded shares of Momo from a buy rating to a strong-buy rating and set a $42.54 target price for the company in a report on Tuesday, April 11th. Benchmark Co. started coverage on shares of Momo in a report on Tuesday, April 18th. They issued a buy rating and a $44.00 target price for the company. Jefferies Group LLC restated a buy rating on shares of Momo in a report on Tuesday, April 11th. Finally, Instinet started coverage on shares of Momo in a report on Monday, February 13th. They issued a buy rating and a $34.00 target price for the company. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Momo has a consensus rating of Buy and a consensus target price of $35.26.

Shares of Momo (NASDAQ:MOMO) opened at 41.41 on Thursday. The company has a market capitalization of $8.16 billion, a PE ratio of 57.51 and a beta of 1.86. The stock has a 50 day moving average price of $37.87 and a 200-day moving average price of $27.59. Momo has a 12 month low of $8.88 and a 12 month high of $44.59.

Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, March 7th. The information services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.11. The business had revenue of $246.10 million during the quarter, compared to the consensus estimate of $195.78 million. Momo had a net margin of 19.51% and a return on equity of 13.50%. The firm’s revenue for the quarter was up 523.0% on a year-over-year basis. Analysts forecast that Momo will post $1.41 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in Momo by 818.0% in the first quarter. Morgan Stanley now owns 11,834,761 shares of the information services provider’s stock valued at $403,211,000 after buying an additional 10,545,573 shares during the last quarter. Hillhouse Capital Management Ltd. purchased a new position in Momo during the third quarter valued at approximately $105,665,000. Laurion Capital Management LP purchased a new position in Momo during the first quarter valued at approximately $132,531,000. SC China Holding Ltd. purchased a new position in Momo during the third quarter valued at approximately $73,123,000. Finally, Prime Capital Management Co Ltd raised its position in Momo by 87.5% in the fourth quarter. Prime Capital Management Co Ltd now owns 6,405,700 shares of the information services provider’s stock valued at $117,737,000 after buying an additional 2,989,716 shares in the last quarter. Hedge funds and other institutional investors own 14.76% of the company’s stock.

About Momo

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.

5 Day Chart for NASDAQ:MOMO

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