Analysts Set Momo Inc (MOMO) PT at $52.65

Momo Inc (NASDAQ:MOMO) has received an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $52.65.

Several brokerages have recently issued reports on MOMO. Standpoint Research upgraded Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. ValuEngine downgraded Momo from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, BidaskClub downgraded Momo from a “hold” rating to a “sell” rating in a research report on Friday, July 13th.

MOMO traded down $0.38 during trading on Monday, reaching $36.26. 8,165 shares of the stock were exchanged, compared to its average volume of 5,087,474. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.46 and a current ratio of 3.46. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 0.71 and a beta of 1.88. Momo has a 1 year low of $22.49 and a 1 year high of $54.24.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOMO. Swiss National Bank increased its stake in Momo by 21.1% during the third quarter. Swiss National Bank now owns 289,341 shares of the information services provider’s stock worth $12,673,000 after acquiring an additional 50,447 shares during the last quarter. ClariVest Asset Management LLC increased its stake in Momo by 72.4% during the third quarter. ClariVest Asset Management LLC now owns 299,800 shares of the information services provider’s stock worth $13,132,000 after acquiring an additional 125,900 shares during the last quarter. MML Investors Services LLC acquired a new stake in Momo during the third quarter worth about $217,000. Prudential Financial Inc. increased its stake in Momo by 53.4% during the third quarter. Prudential Financial Inc. now owns 864,000 shares of the information services provider’s stock worth $37,844,000 after acquiring an additional 300,600 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Momo by 60.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,800 shares of the information services provider’s stock worth $385,000 after acquiring an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 53.48% of the company’s stock.

About 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 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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