Zacks: Brokerages Anticipate Momo Inc (MOMO) Will Announce Quarterly Sales of $533.07 Million

Equities research analysts expect that Momo Inc (NASDAQ:MOMO) will announce sales of $533.07 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Momo’s earnings, with the lowest sales estimate coming in at $531.54 million and the highest estimate coming in at $534.60 million. Momo posted sales of $435.13 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.5%. The company is expected to announce its next quarterly earnings report on Tuesday, June 4th.

According to Zacks, analysts expect that Momo will report full year sales of $2.42 billion for the current financial year, with estimates ranging from $2.35 billion to $2.47 billion. For the next year, analysts anticipate that the business will post sales of $2.87 billion, with estimates ranging from $2.76 billion to $2.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Momo.

Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, March 12th. The information services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.17. The firm had revenue of $559.10 million for the quarter, compared to analysts’ expectations of $536.45 million. Momo had a net margin of 21.19% and a return on equity of 30.62%. The company’s revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

A number of research analysts have commented on the stock. BidaskClub cut shares of Momo from a “buy” rating to a “hold” rating in a research report on Saturday, February 9th. Zacks Investment Research cut shares of Momo from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. ValuEngine raised shares of Momo from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Morgan Stanley raised shares of Momo from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $33.00 to $44.00 in a research report on Wednesday, March 13th. Finally, Nomura upped their target price on shares of Momo from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.67.

NASDAQ MOMO traded down $0.37 during trading hours on Tuesday, reaching $35.67. The company had a trading volume of 1,973,559 shares, compared to its average volume of 3,495,022. Momo has a 1-year low of $22.85 and a 1-year high of $54.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.69 and a quick ratio of 4.76. The stock has a market capitalization of $7.11 billion, a P/E ratio of 18.20, a PEG ratio of 0.63 and a beta of 2.16.

The business also recently announced a special dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, April 4th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Wealth Inc. purchased a new stake in Momo during the first quarter worth about $25,000. Daiwa Securities Group Inc. increased its stake in Momo by 148.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,120 shares of the information services provider’s stock worth $27,000 after purchasing an additional 670 shares during the period. Advisors Asset Management Inc. increased its stake in Momo by 76.3% during the fourth quarter. Advisors Asset Management Inc. now owns 1,294 shares of the information services provider’s stock worth $31,000 after purchasing an additional 560 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Momo during the fourth quarter worth about $37,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in Momo during the fourth quarter worth about $71,000. 52.62% of the stock is currently owned by institutional investors.

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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