Momo Inc. (MOMO) Sees Large Growth in Short Interest
Momo Inc. (NASDAQ:MOMO) was the recipient of a large increase in short interest in September. As of September 29th, there was short interest totalling 8,438,940 shares, an increase of 20.3% from the September 15th total of 7,017,186 shares. Based on an average daily volume of 5,447,167 shares, the short-interest ratio is presently 1.5 days. Currently, 5.6% of the shares of the stock are sold short.
Several equities analysts recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and issued a $54.00 price target on shares of Momo in a research note on Tuesday, October 3rd. Vetr upgraded Momo from a “buy” rating to a “strong-buy” rating and set a $42.17 price target for the company in a research note on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) assumed coverage on Momo in a research note on Wednesday, August 30th. They issued a “buy” rating and a $56.00 price target for the company. Standpoint Research assumed coverage on Momo in a research note on Wednesday, August 30th. They issued a “buy” rating and a $44.00 price target for the company. Finally, TheStreet upgraded Momo from a “c+” rating to a “b” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Momo presently has a consensus rating of “Buy” and an average target price of $41.81.
Shares of Momo (NASDAQ:MOMO) opened at 32.78 on Thursday. The company has a 50-day moving average price of $35.02 and a 200 day moving average price of $38.45. The firm has a market capitalization of $6.47 billion, a PE ratio of 25.71 and a beta of 1.82. 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 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $287.84 million. Momo’s revenue for the quarter was up 31120.0% on a year-over-year basis. On average, equities analysts expect that Momo will post $1.66 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Momo in the second quarter valued at about $101,000. D.A. Davidson & CO. purchased a new position in Momo in the second quarter valued at about $136,000. Benjamin F. Edwards & Company Inc. purchased a new position in Momo in the second quarter valued at about $155,000. Alta Advisers Ltd purchased a new position in Momo in the second quarter valued at about $156,000. Finally, ETF Managers Group LLC purchased a new position in Momo in the second quarter valued at about $200,000. 39.15% of the stock is owned by institutional investors.
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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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