Momo Inc. (MOMO) Stock Rating Reaffirmed by Jefferies Group LLC
Momo Inc. (NASDAQ:MOMO)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a research note issued to investors on Tuesday. They presently have a $54.00 price objective on the information services provider’s stock. Jefferies Group LLC’s price objective points to a potential upside of 67.29% from the stock’s current price.
Several other brokerages have also recently commented on MOMO. TheStreet upgraded shares of Momo from a “c+” rating to a “b” rating in a research note on Monday, August 7th. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Vetr upgraded shares of Momo from a “buy” rating to a “strong-buy” rating and set a $42.17 target price on the stock in a research report on Wednesday, September 13th. Standpoint Research began coverage on shares of Momo in a research report on Wednesday, August 30th. They set a “buy” rating and a $44.00 target price on the stock. Finally, BidaskClub raised shares of Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.64.
Momo (NASDAQ:MOMO) traded up 1.16% during trading on Tuesday, hitting $32.28. The stock had a trading volume of 4,119,428 shares. Momo has a 12-month low of $16.73 and a 12-month high of $46.69.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Momo had a net margin of 27.00% and a return on equity of 38.94%. The company had revenue of $312.20 million for the quarter, compared to analyst estimates of $287.84 million. The firm’s revenue was up 31120.0% compared to the same quarter last year. On average, equities analysts forecast that Momo will post $1.67 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of the company. AJO LP acquired a new position in shares of Momo during the 2nd quarter worth approximately $4,819,000. Comerica Bank purchased a new stake in Momo in the 2nd quarter valued at approximately $365,000. Koch Industries Inc. lifted its stake in Momo by 11.1% in the 1st 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 in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Momo by 1,631.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 271,511 shares of the information services provider’s stock valued at $10,035,000 after buying an additional 255,831 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Momo by 43.9% in the 2nd quarter. First Trust Advisors LP now owns 91,860 shares of the information services provider’s stock valued at $3,395,000 after buying an additional 28,028 shares in the last quarter. 39.14% of the stock is 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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