Momo Inc. (MOMO) Upgraded at Morgan Stanley
Momo Inc. (NASDAQ:MOMO) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday. The brokerage presently has a $32.00 target price on the stock, up from their previous target price of $28.00. Morgan Stanley’s price target would suggest a potential upside of 32.84% from the stock’s previous close.
Several other research firms also recently commented on MOMO. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, September 8th. JPMorgan Chase & Co. assumed coverage on Momo in a research report on Wednesday, August 31st. They issued an “overweight” rating on the stock. Finally, Credit Suisse Group AG assumed coverage on Momo in a research report on Wednesday, September 14th. They issued an “outperform” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $29.33.
Shares of Momo (NASDAQ:MOMO) traded up 1.00% during trading on Wednesday, reaching $24.33. The company’s stock had a trading volume of 1,412,476 shares. The company has a market cap of $4.61 billion, a PE ratio of 173.79 and a beta of 2.24. The firm’s 50-day moving average is $23.66 and its 200 day moving average is $16.38. Momo has a 52-week low of $6.72 and a 52-week high of $26.65.
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Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, August 16th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Momo had a return on equity of 5.81% and a net margin of 12.23%. The company had revenue of $99 million for the quarter, compared to the consensus estimate of $30.70 million. On average, equities research analysts predict that Momo will post $0.47 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Momo by 116.1% in the second quarter. BlackRock Fund Advisors now owns 130,502 shares of the company’s stock worth $1,319,000 after buying an additional 70,123 shares in the last quarter. BlackRock Inc. increased its stake in shares of Momo by 282.6% in the second quarter. BlackRock Inc. now owns 12,395 shares of the company’s stock worth $125,000 after buying an additional 9,155 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Momo by 13.4% in the second quarter. First Trust Advisors LP now owns 92,639 shares of the company’s stock worth $937,000 after buying an additional 10,934 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Momo by 5.8% in the second quarter. SG Americas Securities LLC now owns 22,134 shares of the company’s stock worth $224,000 after buying an additional 1,205 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Momo during the second quarter worth about $438,000. 10.37% of the stock is currently owned by institutional investors and hedge funds.
Momo Company Profile
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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