Momo Inc. (MOMO) Given Consensus Recommendation of “Buy” by Analysts
Momo Inc. (NASDAQ:MOMO) has received a consensus recommendation of “Buy” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $42.85.
Several equities research analysts have issued reports on MOMO shares. Jefferies Group reissued a “buy” rating and issued a $54.00 price target on shares of Momo in a report on Tuesday, October 3rd. Vetr lowered shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 target price on the stock. in a report on Monday, September 4th. Benchmark lowered their target price on shares of Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, November 29th. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, October 25th. Finally, Deutsche Bank set a $43.00 target price on shares of Momo and gave the stock a “buy” rating in a report on Tuesday, November 28th.
A number of large investors have recently modified their holdings of the business. HighTower Advisors LLC grew its holdings in Momo by 6.3% during the 2nd quarter. HighTower Advisors LLC now owns 8,605 shares of the information services provider’s stock worth $316,000 after acquiring an additional 513 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in Momo by 5.3% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 37,900 shares of the information services provider’s stock worth $1,188,000 after acquiring an additional 1,900 shares during the last quarter. Profund Advisors LLC grew its holdings in Momo by 9.6% during the 2nd quarter. Profund Advisors LLC now owns 24,268 shares of the information services provider’s stock worth $897,000 after acquiring an additional 2,134 shares during the last quarter. Rational Advisors LLC grew its holdings in Momo by 108.7% during the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its holdings in Momo by 11.4% during the 3rd quarter. Boothbay Fund Management LLC now owns 26,000 shares of the information services provider’s stock worth $815,000 after acquiring an additional 2,657 shares during the last quarter. 40.60% of the stock is currently owned by hedge funds and other institutional investors.
Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The firm had revenue of $354.10 million for the quarter, compared to analyst estimates of $342.48 million. Momo had a net margin of 25.88% and a return on equity of 39.60%. The business’s revenue for the quarter was up 125.5% compared to the same quarter last year. analysts expect that Momo will post 1.45 earnings per share for the current fiscal year.
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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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