Momo (NASDAQ:MOMO) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Momo from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded Momo from a “neutral” rating to an “overweight” rating in a research report on Friday, January 26th. Jefferies Group reiterated a “buy” rating and set a $45.00 target price on shares of Momo in a research report on Wednesday, January 24th. UBS Group began coverage on Momo in a research report on Tuesday, January 2nd. They issued a “hold” rating and a $28.00 price objective on the stock. Finally, TheStreet upgraded Momo from a “c+” rating to a “b-” rating in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Momo currently has an average rating of “Buy” and an average target price of $40.58.
Momo (MOMO) traded up $1.27 during midday trading on Thursday, reaching $27.65. The company had a trading volume of 4,173,892 shares, compared to its average volume of 5,370,000. The stock has a market capitalization of $5,490.00, a P/E ratio of 18.81 and a beta of 1.79. Momo has a 12 month low of $22.49 and a 12 month high of $46.69.
A number of hedge funds and other institutional investors have recently modified their holdings of MOMO. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Momo during the second quarter valued at approximately $101,000. Rational Advisors LLC grew its stake in shares of Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after buying an additional 2,500 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Momo by 213.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock valued at $184,000 after buying an additional 5,125 shares during the last quarter. Exane Derivatives bought a new position in shares of Momo during the third quarter valued at approximately $194,000. Finally, Cetera Advisor Networks LLC bought a new position in shares of Momo during the fourth quarter valued at approximately $237,000. 39.75% of the stock is currently owned by institutional investors.
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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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