Momo Inc (NASDAQ:MOMO) has received a consensus recommendation of “Buy” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $41.93.
MOMO has been the subject of several research analyst reports. Zacks Investment Research lowered Momo from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. raised Momo from a “neutral” rating to an “overweight” rating in a research note on Friday, January 26th. Benchmark dropped their price target on Momo from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 29th. Deutsche Bank set a $43.00 price target on Momo and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, UBS Group initiated coverage on Momo in a research note on Tuesday, January 2nd. They set a “hold” rating and a $28.00 price target for the company.
Shares of Momo (NASDAQ MOMO) traded down $1.18 during mid-day trading on Friday, reaching $29.83. The company’s stock had a trading volume of 4,720,000 shares, compared to its average volume of 4,860,000. Momo has a 52-week low of $22.49 and a 52-week high of $46.69. The company has a market capitalization of $5,700.00, a price-to-earnings ratio of 20.29 and a beta of 1.79.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Momo by 2,664.8% in the 2nd quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock valued at $132,331,000 after acquiring an additional 3,450,915 shares during the last quarter. USA Financial Portformulas Corp bought a new position in Momo during the 2nd quarter valued at approximately $498,000. Swiss National Bank raised its position in Momo by 38.8% during the 3rd quarter. Swiss National Bank now owns 242,486 shares of the information services provider’s stock valued at $7,600,000 after purchasing an additional 67,727 shares during the last quarter. Eqis Capital Management Inc. bought a new position in Momo during the 3rd quarter valued at approximately $256,000. Finally, BRILLIANCE ASSET MANAGEMENT Ltd bought a new position in Momo during the 2nd quarter valued at approximately $28,749,000. 39.48% of the stock is owned by institutional investors.
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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