Momo Inc. (MOMO) Upgraded to Strong-Buy at Vetr Inc.
Vetr upgraded shares of Momo Inc. (NASDAQ:MOMO) from a buy rating to a strong-buy rating in a research report report published on Wednesday. They currently have $42.17 price target on the information services provider’s stock.
MOMO has been the topic of several other research reports. Jefferies Group LLC reiterated a buy rating and issued a $54.00 price target (up previously from $52.00) on shares of Momo in a research note on Friday, July 14th. BidaskClub upgraded Momo from a buy rating to a strong-buy rating in a research note on Thursday, July 13th. TheStreet upgraded Momo from a c+ rating to a b rating in a research note on Monday, August 7th. J P Morgan Chase & Co cut Momo from an overweight rating to a neutral rating and set a $44.00 price target on the stock. in a research note on Wednesday, May 24th. Finally, Deutsche Bank AG upgraded Momo from a hold rating to a buy rating and boosted their price target for the stock from $30.00 to $52.00 in a research note on Wednesday, May 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $40.89.
Momo (MOMO) opened at 37.60 on Wednesday. The firm has a 50-day moving average price of $41.64 and a 200 day moving average price of $37.77. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 29.49 and a beta of 1.94. Momo has a 1-year low of $16.73 and a 1-year high of $46.69.
Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Momo had a return on equity of 38.94% and a net margin of 27.00%. The business had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. The business’s revenue for the quarter was up 31120.0% on a year-over-year basis. On average, equities research analysts anticipate that Momo will post $1.67 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. BRILLIANCE ASSET MANAGEMENT Ltd bought a new position in shares of Momo during the second quarter valued at approximately $28,749,000. Navellier & Associates Inc grew its holdings in shares of Momo by 62.8% during the second quarter. Navellier & Associates Inc now owns 37,964 shares of the information services provider’s stock valued at $1,403,000 after purchasing an additional 14,650 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of Momo during the second quarter valued at approximately $498,000. Public Employees Retirement System of Ohio grew its holdings in shares of Momo by 11.4% during the second quarter. Public Employees Retirement System of Ohio now owns 545,699 shares of the information services provider’s stock valued at $20,169,000 after purchasing an additional 55,980 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Momo during the second quarter valued at approximately $5,593,000. 38.76% of the stock is owned by institutional investors.
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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