ValuEngine Downgrades Momo (MOMO) to Sell

Momo (NASDAQ:MOMO) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other brokerages have also recently weighed in on MOMO. 86 Research upgraded Momo from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Zacks Investment Research cut Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, Standpoint Research upgraded Momo from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Momo currently has a consensus rating of “Buy” and an average target price of $49.41.

Shares of NASDAQ MOMO opened at $32.65 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.46 and a quick ratio of 3.46. The firm has a market cap of $7.13 billion, a P/E ratio of 21.34, a P/E/G 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 issued its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $494.27 million during the quarter, compared to analysts’ expectations of $479.37 million. Momo had a return on equity of 37.12% and a net margin of 25.40%. The firm’s quarterly revenue was up 58.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. As a group, equities analysts forecast that Momo will post 2.19 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Todd Asset Management LLC increased its position in Momo by 0.6% during the 3rd quarter. Todd Asset Management LLC now owns 360,608 shares of the information services provider’s stock valued at $15,795,000 after buying an additional 2,157 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in Momo by 11.0% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 22,134 shares of the information services provider’s stock valued at $969,000 after buying an additional 2,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Momo by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,797 shares of the information services provider’s stock valued at $1,862,000 after buying an additional 2,500 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in Momo by 5.1% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 53,900 shares of the information services provider’s stock valued at $2,361,000 after buying an additional 2,600 shares in the last quarter. Finally, Elite Wealth Management Inc. increased its position in Momo by 5.2% during the 2nd quarter. Elite Wealth Management Inc. now owns 55,850 shares of the information services provider’s stock valued at $2,429,000 after buying an additional 2,783 shares in the last quarter. 53.48% of the stock is currently owned by institutional investors.

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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