Momo (NASDAQ:MOMO) had its price objective lowered by Benchmark from $48.00 to $38.00 in a research note released on Wednesday, MarketBeat.com reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other equities research analysts have also commented on MOMO. Zacks Investment Research lowered Momo from a buy rating to a hold rating in a research report on Wednesday, August 9th. TheStreet raised Momo from a c+ rating to a b rating in a research report on Monday, August 7th. Jefferies Group reissued a buy rating and issued a $54.00 price target on shares of Momo in a research report on Wednesday, August 16th. Standpoint Research initiated coverage on Momo in a research report on Wednesday, August 30th. They issued a buy rating and a $44.00 price target for the company. Finally, Goldman Sachs Group initiated coverage on Momo in a research report on Wednesday, August 30th. They issued a buy rating and a $56.00 price target for the company. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $41.23.

Momo (NASDAQ:MOMO) traded down $1.44 during midday trading on Wednesday, reaching $22.56. The company had a trading volume of 9,852,798 shares, compared to its average volume of 6,526,010. The stock has a market cap of $4,667.38, a price-to-earnings ratio of 16.22 and a beta of 1.58. Momo has a twelve month low of $16.73 and a twelve month high of $46.69.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. The business had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. Momo had a return on equity of 39.60% and a net margin of 25.88%. Momo’s revenue was up 125.5% compared to the same quarter last year. sell-side analysts expect that Momo will post 1.45 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Momo by 12.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 613,232 shares of the information services provider’s stock valued at $19,219,000 after purchasing an additional 67,533 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Momo during the 3rd quarter valued at $1,191,000. California Public Employees Retirement System increased its position in shares of Momo by 20.0% during the 3rd quarter. California Public Employees Retirement System now owns 171,886 shares of the information services provider’s stock valued at $5,387,000 after purchasing an additional 28,686 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Momo by 105.7% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,362 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 6,351 shares during the last quarter. Finally, Sylebra HK Co Ltd increased its position in shares of Momo by 107.8% during the 3rd quarter. Sylebra HK Co Ltd now owns 640,841 shares of the information services provider’s stock valued at $20,084,000 after purchasing an additional 332,379 shares during the last quarter. 40.54% of the stock is owned by hedge funds and other institutional investors.

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About Momo

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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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