Momo (NASDAQ:MOMO)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a note issued to investors on Thursday. They currently have a $58.00 target price on the information services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 83.14% from the stock’s current price. Jefferies Financial Group also issued estimates for Momo’s Q3 2018 earnings at $0.43 EPS and Q4 2018 earnings at $0.51 EPS.
Other analysts have also issued reports about the company. ValuEngine raised Momo from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Zacks Investment Research lowered Momo from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Standpoint Research upgraded Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, TH Capital dropped their price objective on Momo to $40.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.53.
MOMO opened at $31.67 on Thursday. The firm has a market cap of $6.31 billion, a PE ratio of 20.70, a P/E/G ratio of 0.65 and a beta of 1.88. Momo has a 52-week low of $22.49 and a 52-week high of $54.24. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21.
Several hedge funds have recently made changes to their positions in the stock. OLD National Bancorp IN bought a new position in Momo in the third quarter valued at about $201,000. Engineers Gate Manager LP bought a new position in Momo in the third quarter valued at about $201,000. WINTON GROUP Ltd bought a new position in Momo in the third quarter valued at about $211,000. Liberty Mutual Group Asset Management Inc. bought a new position in Momo in the second quarter valued at about $213,000. Finally, MML Investors Services LLC bought a new position in Momo in the third quarter valued at about $217,000. Institutional investors and hedge funds own 53.23% of the company’s stock.
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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