Momo Inc. (NASDAQ:MOMO) has been assigned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $40.02.

A number of equities research analysts have issued reports on MOMO shares. Deutsche Bank AG upgraded Momo from a “hold” rating to a “buy” rating and boosted their price target for the company from $30.00 to $52.00 in a research note on Wednesday, May 24th. Vetr raised Momo from a “buy” rating to a “strong-buy” rating and set a $42.83 price objective on the stock in a research report on Wednesday, May 10th. J P Morgan Chase & Co cut Momo from an “overweight” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Wednesday, May 24th. BOCOM International Holdings initiated coverage on Momo in a report on Monday, May 8th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Zacks Investment Research cut Momo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th.

Momo (NASDAQ MOMO) traded up 1.86% during midday trading on Tuesday, reaching $41.60. 2,067,757 shares of the company’s stock traded hands. Momo has a one year low of $12.43 and a one year high of $45.95.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. The business had revenue of $265.20 million during the quarter, compared to the consensus estimate of $245.48 million. Momo had a return on equity of 36.36% and a net margin of 28.59%. Momo’s quarterly revenue was up 421.0% on a year-over-year basis. On average, equities analysts predict that Momo will post $1.57 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the company. Guggenheim Capital LLC boosted its stake in shares of Momo by 15.0% in the fourth quarter. Guggenheim Capital LLC now owns 51,012 shares of the information services provider’s stock valued at $938,000 after buying an additional 6,654 shares in the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Momo during the fourth quarter valued at $418,000. Sheets Smith Wealth Management purchased a new stake in shares of Momo during the first quarter valued at $287,000. Bank of Montreal Can boosted its stake in shares of Momo by 105.8% in the first quarter. Bank of Montreal Can now owns 57,920 shares of the information services provider’s stock valued at $1,973,000 after buying an additional 29,782 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Momo during the first quarter valued at $201,000. Institutional investors and hedge funds own 40.33% of the company’s stock.

About Momo

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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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