Momo (MOMO) Shares Gap Down to $25.46

Momo Inc (NASDAQ:MOMO) gapped down prior to trading on Friday . The stock had previously closed at $25.98, but opened at $25.46. Momo shares last traded at $25.22, with a volume of 2757660 shares changing hands.

A number of equities research analysts have weighed in on MOMO shares. ValuEngine downgraded Momo from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. BidaskClub raised Momo from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Citigroup downgraded Momo from a “buy” rating to a “neutral” rating in a report on Friday, December 7th. Nomura reduced their target price on Momo from $55.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, December 7th. Finally, Morgan Stanley downgraded Momo from an “overweight” rating to an “equal weight” rating and set a $26.70 target price on the stock. in a report on Friday, December 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.97.

The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.54 and a beta of 1.84.

Momo (NASDAQ:MOMO) last released its quarterly earnings data on Wednesday, December 5th. The information services provider reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.09. Momo had a return on equity of 33.77% and a net margin of 23.24%. The company had revenue of $536.00 million for the quarter, compared to the consensus estimate of $535.30 million. During the same quarter last year, the business posted $0.45 EPS. Momo’s revenue for the quarter was up 51.4% on a year-over-year basis. As a group, equities analysts forecast that Momo Inc will post 1.95 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its holdings in Momo by 854.0% during the 3rd quarter. Virtu Financial LLC now owns 94,684 shares of the information services provider’s stock worth $4,147,000 after buying an additional 84,759 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Momo by 39.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 107,324 shares of the information services provider’s stock worth $4,669,000 after buying an additional 30,511 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Momo by 63.6% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,200 shares of the information services provider’s stock worth $313,000 after buying an additional 2,800 shares during the period. Hershey Trust Co. acquired a new position in Momo during the 3rd quarter worth about $551,000. Finally, Korea Investment CORP lifted its holdings in Momo by 30.5% during the 2nd quarter. Korea Investment CORP now owns 112,100 shares of the information services provider’s stock worth $4,876,000 after buying an additional 26,200 shares during the period. 55.25% of the stock is currently owned by institutional investors.

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Momo Company Profile (NASDAQ: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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