Momo Inc (MOMO) Receives Average Recommendation of “Buy” from Analysts

Momo Inc (NASDAQ:MOMO) has received a consensus recommendation of “Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $52.65.

MOMO has been the subject of several recent analyst reports. ValuEngine upgraded shares of Momo from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Standpoint Research upgraded shares of Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research cut shares of Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd.

Shares of MOMO traded down $2.35 during trading hours on Monday, hitting $32.65. 5,602,937 shares of the stock were exchanged, compared to its average volume of 4,937,865. Momo has a fifty-two week low of $22.49 and a fifty-two week high of $54.24. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.21. The stock has a market cap of $7.30 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 0.73 and a beta of 1.88.

Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.07. Momo had a net margin of 25.40% and a return on equity of 37.12%. The company had revenue of $494.27 million during the quarter, compared to analysts’ expectations of $479.37 million. During the same period in the prior year, the company posted $0.35 earnings per share. Momo’s revenue for the quarter was up 58.3% compared to the same quarter last year. Sell-side analysts anticipate that Momo will post 2.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its stake in Momo by 179.8% during the third quarter. Canada Pension Plan Investment Board now owns 500,900 shares of the information services provider’s stock worth $21,939,000 after acquiring an additional 321,900 shares in the last quarter. Trexquant Investment LP boosted its stake in Momo by 87.9% during the third quarter. Trexquant Investment LP now owns 30,601 shares of the information services provider’s stock worth $1,340,000 after acquiring an additional 14,315 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Momo by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,699 shares of the information services provider’s stock worth $2,002,000 after acquiring an additional 2,902 shares in the last quarter. Todd Asset Management LLC boosted its stake in Momo by 0.6% during the third quarter. Todd Asset Management LLC now owns 360,608 shares of the information services provider’s stock worth $15,795,000 after acquiring an additional 2,157 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Momo by 25.9% during the third quarter. Bank of New York Mellon Corp now owns 194,337 shares of the information services provider’s stock worth $8,512,000 after acquiring an additional 39,946 shares in the last quarter. 53.48% of the stock is currently owned by institutional investors and hedge funds.

Momo Company Profile

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 videos, short videos, social games, and other video- and audio-based interactive experiences.

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Analyst Recommendations for Momo (NASDAQ:MOMO)

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