BidaskClub downgraded shares of Momo (NASDAQ:MOMO) from a hold rating to a sell rating in a research note released on Thursday.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Momo from a hold rating to a buy rating and set a $35.00 price target for the company in a research note on Wednesday, October 25th. JPMorgan Chase & Co. decreased their price target on shares of Momo to $30.00 in a research note on Wednesday, November 29th. Jefferies Group reissued a buy rating and issued a $54.00 price target on shares of Momo in a research note on Tuesday, October 3rd. Deutsche Bank set a $43.00 price target on shares of Momo and gave the stock a buy rating in a research note on Tuesday, November 28th. Finally, TheStreet raised shares of Momo from a c+ rating to a b- rating in a research note on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $41.23.

Momo (MOMO) traded up $1.19 during mid-day trading on Thursday, reaching $28.60. 7,340,000 shares of the company were exchanged, compared to its average volume of 4,310,000. Momo has a 12 month low of $21.53 and a 12 month high of $46.69. The company has a market capitalization of $5,680.00, a P/E ratio of 19.46 and a beta of 1.54.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company had revenue of $354.10 million during the quarter, compared to the consensus estimate of $342.48 million. Momo’s revenue was up 125.5% on a year-over-year basis. equities research analysts anticipate that Momo will post 1.47 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MOMO. BT Investment Management Ltd increased its stake in shares of Momo by 661.7% during the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock valued at $238,534,000 after purchasing an additional 6,611,904 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Momo by 2,664.8% during the second quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock valued at $132,331,000 after buying an additional 3,450,915 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Momo by 33.6% during the third quarter. JPMorgan Chase & Co. now owns 5,102,447 shares of the information services provider’s stock valued at $165,524,000 after buying an additional 1,283,287 shares during the last quarter. State Street Corp grew its holdings in shares of Momo by 3,342.6% during the second quarter. State Street Corp now owns 1,096,159 shares of the information services provider’s stock valued at $40,512,000 after buying an additional 1,064,318 shares during the last quarter. Finally, Light Street Capital Management LLC grew its holdings in shares of Momo by 23.1% during the second quarter. Light Street Capital Management LLC now owns 4,800,000 shares of the information services provider’s stock valued at $177,408,000 after buying an additional 900,000 shares during the last quarter. 39.75% of the stock is owned by institutional investors and hedge funds.

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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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