Momo (MOMO) Shares Gap Up to $27.65
Momo Inc (NASDAQ:MOMO) shares gapped up before the market opened on Monday . The stock had previously closed at $26.97, but opened at $27.65. Momo shares last traded at $28.32, with a volume of 2988841 shares traded.
Several research analysts have commented on MOMO shares. JPMorgan Chase & Co. dropped their price objective on shares of Momo to $30.00 in a research note on Wednesday, November 29th. TheStreet raised shares of Momo from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Jefferies Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Momo in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, October 25th. Finally, Benchmark dropped their price objective on shares of Momo from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $41.09.
The company has a market capitalization of $5,623.73, a P/E ratio of 19.11 and a beta of 1.80.
Several institutional investors and hedge funds have recently modified their holdings of MOMO. Teachers Advisors LLC purchased a new stake in shares of Momo during the second quarter valued at $1,408,000. Northern Trust Corp boosted its stake in shares of Momo by 4,536.6% during the second quarter. Northern Trust Corp now owns 470,013 shares of the information services provider’s stock valued at $17,372,000 after purchasing an additional 459,876 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Momo during the second quarter valued at $16,627,000. California Public Employees Retirement System purchased a new stake in shares of Momo during the second quarter valued at $5,293,000. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Momo during the second quarter valued at $629,000. 40.07% of the stock is owned by hedge funds and other institutional investors.
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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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