Momo Inc (MOMO) Downgraded to “Hold” at Vetr Inc.
Momo Inc (NASDAQ:MOMO) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Wednesday, May 17th. They presently have a $44.67 target price on the information services provider’s stock. Vetr‘s price objective would indicate a potential upside of 14.13% from the stock’s current price.
MOMO has been the topic of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price target on shares of Momo in a research note on Monday, February 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Momo in a report on Sunday, April 2nd. TheStreet cut shares of Momo from a “b-” rating to a “c+” rating in a report on Thursday, January 26th. Nomura restated a “buy” rating and set a $43.00 price target on shares of Momo in a report on Wednesday, April 12th. Finally, BOCOM International Holdings started coverage on shares of Momo in a report on Monday, May 8th. They issued a “buy” rating and a $46.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.82.
Shares of Momo (NASDAQ:MOMO) traded up 1.90% on Wednesday, reaching $39.14. The company had a trading volume of 7,550,850 shares. The company has a 50 day moving average price of $38.95 and a 200 day moving average price of $28.30. Momo has a 52-week low of $8.88 and a 52-week high of $45.95. The stock has a market capitalization of $7.63 billion, a PE ratio of 36.24 and a beta of 1.86.
Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.12. Momo had a net margin of 19.51% and a return on equity of 13.50%. The business had revenue of $265.20 million for the quarter, compared to the consensus estimate of $245.48 million. The firm’s revenue for the quarter was up 421.0% compared to the same quarter last year. On average, equities research analysts anticipate that Momo will post $1.56 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC purchased a new stake in shares of Momo during the third quarter valued at approximately $155,000. Quantitative Systematic Strategies LLC bought a new stake in Momo during the first quarter worth about $201,000. DekaBank Deutsche Girozentrale bought a new stake in Momo during the first quarter worth about $219,000. Blue Rock Advisors LLC bought a new stake in Momo during the third quarter worth about $270,000. Finally, GRATRY & Co LLC bought a new stake in Momo during the first quarter worth about $274,000. Institutional investors own 14.76% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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