Momo Inc. (NASDAQ:MOMO) Upgraded to Strong-Buy at BidaskClub
Momo Inc. (NASDAQ:MOMO) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday, July 13th.
Several other analysts have also commented on the company. TheStreet raised Momo from a “c” rating to a “b-” rating in a report on Thursday, April 13th. Vetr raised Momo from a “hold” rating to a “buy” rating and set a $36.45 price objective for the company in a report on Monday, March 20th. Benchmark Co. began coverage on Momo in a report on Tuesday, April 18th. They issued a “buy” rating and a $44.00 price objective for the company. Nomura reissued a “buy” rating and set a $43.00 price target on shares of Momo in a report on Wednesday, April 12th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Momo in a report on Tuesday, April 11th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Momo currently has a consensus rating of “Buy” and a consensus price target of $39.95.
Shares of Momo (NASDAQ MOMO) opened at 45.80 on Thursday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 42.41 and a beta of 1.91. Momo has a one year low of $14.70 and a one year high of $46.69. The firm’s 50-day moving average is $40.77 and its 200-day moving average is $34.94.
Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.12. Momo had a return on equity of 36.36% and a net margin of 28.59%. The firm had revenue of $265.20 million during the quarter, compared to analysts’ expectations of $245.48 million. The company’s quarterly revenue was up 421.0% compared to the same quarter last year. Analysts expect that Momo will post $1.56 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in Momo by 818.0% in the first quarter. Morgan Stanley now owns 11,834,761 shares of the information services provider’s stock worth $403,211,000 after buying an additional 10,545,573 shares in the last quarter. Laurion Capital Management LP acquired a new position in Momo during the first quarter worth approximately $132,531,000. OZ Management LP purchased a new position in shares of Momo during the first quarter valued at about $101,658,000. Tairen Capital Ltd boosted its position in shares of Momo by 194.7% in the first quarter. Tairen Capital Ltd now owns 3,663,687 shares of the information services provider’s stock valued at $124,822,000 after buying an additional 2,420,520 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Momo by 113.3% in the second quarter. Acadian Asset Management LLC now owns 4,264,640 shares of the information services provider’s stock valued at $157,624,000 after buying an additional 2,265,665 shares during the period. 42.51% of the stock is currently owned by hedge funds and other 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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