Deutsche Bank set a $43.00 price objective on Momo (NASDAQ:MOMO) in a research note released on Tuesday morning. The brokerage currently has a buy rating on the information services provider’s stock.

Several other analysts have also recently commented on the company. Zacks Investment Research raised Momo from a hold rating to a buy rating and set a $35.00 price target for the company in a report on Wednesday, October 25th. Goldman Sachs Group assumed coverage on Momo in a report on Wednesday, August 30th. They set a buy rating and a $56.00 price objective for the company. Vetr cut Momo from a strong-buy rating to a buy rating and set a $42.25 price objective for the company. in a report on Monday, September 4th. Jefferies Group reaffirmed a buy rating and set a $54.00 price objective on shares of Momo in a report on Tuesday, October 3rd. Finally, Standpoint Research assumed coverage on Momo in a report on Wednesday, August 30th. They set a buy rating and a $44.00 price objective for the company. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $41.23.

Shares of Momo (NASDAQ MOMO) opened at $22.56 on Tuesday. The company has a market capitalization of $4,667.38, a P/E ratio of 16.22 and a beta of 1.58. Momo has a 1-year low of $16.73 and a 1-year high of $46.69.

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

Hedge funds have recently modified their holdings of the stock. BT Investment Management Ltd raised its holdings in shares of Momo by 661.7% in the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock worth $238,534,000 after acquiring an additional 6,611,904 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Momo by 33.6% in the third quarter. JPMorgan Chase & Co. now owns 5,102,447 shares of the information services provider’s stock worth $165,524,000 after acquiring an additional 1,283,287 shares during the last quarter. Light Street Capital Management LLC raised its holdings in shares of Momo by 23.1% in the second quarter. Light Street Capital Management LLC now owns 4,800,000 shares of the information services provider’s stock worth $177,408,000 after acquiring an additional 900,000 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Momo by 2,664.8% in the second quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock worth $132,331,000 after acquiring an additional 3,450,915 shares during the last quarter. Finally, Greenwoods Asset Management Ltd raised its holdings in shares of Momo by 11.0% in the third quarter. Greenwoods Asset Management Ltd now owns 2,200,125 shares of the information services provider’s stock worth $68,952,000 after acquiring an additional 218,000 shares during the last quarter. 40.54% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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