Momo (MOMO) Given New $38.00 Price Target at Benchmark

Momo (NASDAQ:MOMO) had its price target reduced by Benchmark from $48.00 to $38.00 in a research note published on Wednesday, MarketBeat reports. Benchmark currently has a buy rating on the information services provider’s stock.

Several other equities research analysts also recently weighed in on MOMO. TheStreet upgraded shares of Momo from a c+ rating to a b rating in a research note on Monday, August 7th. Jefferies Group restated a buy rating and issued a $54.00 target price on shares of Momo in a research note on Wednesday, August 16th. Zacks Investment Research downgraded shares of Momo from a buy rating to a hold rating in a research note on Wednesday, August 9th. Standpoint Research began coverage on shares of Momo in a research note on Wednesday, August 30th. They issued a buy rating and a $44.00 target price for the company. Finally, Vetr upgraded shares of Momo from a buy rating to a strong-buy rating and set a $42.17 target price for the company in a research note on Wednesday, September 13th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $41.23.

Momo (NASDAQ MOMO) opened at $22.56 on Wednesday. The stock has a market cap of $4,667.38, a P/E ratio of 16.22 and a beta of 1.58. Momo has a 1-year low of $16.73 and a 1-year high of $46.69.

Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 21.95% and a return on equity of 36.93%. The firm’s revenue was up 125.5% on a year-over-year basis. analysts anticipate that Momo will post 1.45 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of Momo by 6.3% during the second quarter. HighTower Advisors LLC now owns 8,605 shares of the information services provider’s stock worth $316,000 after buying an additional 513 shares during the period. Virginia Retirement Systems ET AL lifted its stake in shares of Momo by 5.3% during the third quarter. Virginia Retirement Systems ET AL now owns 37,900 shares of the information services provider’s stock worth $1,188,000 after buying an additional 1,900 shares during the period. Profund Advisors LLC lifted its stake in shares of Momo by 9.6% during the second quarter. Profund Advisors LLC now owns 24,268 shares of the information services provider’s stock worth $897,000 after buying an additional 2,134 shares during the period. Rational Advisors LLC lifted its stake in shares of Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after buying an additional 2,500 shares during the period. Finally, Boothbay Fund Management LLC lifted its stake in shares of Momo by 11.4% during the third quarter. Boothbay Fund Management LLC now owns 26,000 shares of the information services provider’s stock worth $815,000 after buying an additional 2,657 shares during the period. Institutional investors and hedge funds own 40.54% of the company’s stock.

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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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