Momo Inc. (NASDAQ:MOMO)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a report released on Wednesday. They currently have a $54.00 price objective on the information services provider’s stock. Jefferies Group LLC’s target price indicates a potential upside of 23.23% from the company’s current price.

MOMO has been the subject of a number of other reports. Vetr upgraded Momo from a “hold” rating to a “buy” rating and set a $46.24 price target for the company in a report on Monday, May 22nd. Deutsche Bank AG upgraded Momo from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $52.00 in a report on Wednesday, May 24th. J P Morgan Chase & Co cut Momo from an “overweight” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday, May 24th. BOCOM International Holdings initiated coverage on Momo in a report on Monday, May 8th. They set a “buy” rating and a $46.00 price target for the company. Finally, Benchmark Co. initiated coverage on Momo in a report on Tuesday, April 18th. They set a “buy” rating and a $44.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $39.95.

Momo (NASDAQ MOMO) traded down 0.43% during mid-day trading on Wednesday, hitting $43.82. The stock had a trading volume of 4,247,283 shares. Momo has a one year low of $15.72 and a one year high of $46.69.

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

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Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its position in Momo by 6.3% in the second quarter. HighTower Advisors LLC now owns 8,605 shares of the information services provider’s stock valued at $316,000 after buying an additional 513 shares during the last quarter. Koch Industries Inc. raised its position in Momo by 11.1% in the first quarter. Koch Industries Inc. now owns 18,764 shares of the information services provider’s stock valued at $639,000 after buying an additional 1,879 shares during the last quarter. Profund Advisors LLC raised its position in Momo by 9.6% in the second quarter. Profund Advisors LLC now owns 24,268 shares of the information services provider’s stock valued at $897,000 after buying an additional 2,134 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Momo during the second quarter valued at about $101,000. Finally, Royal Bank of Canada raised its position in Momo by 63.8% in the second quarter. Royal Bank of Canada now owns 8,332 shares of the information services provider’s stock valued at $308,000 after buying an additional 3,246 shares during the last quarter. 43.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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