Momo (MOMO) Rating Increased to Hold at ValuEngine
ValuEngine upgraded shares of Momo (NASDAQ:MOMO) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other equities research analysts have also recently commented on MOMO. T.H. Capital restated a buy rating on shares of Momo in a research report on Friday, April 13th. Zacks Investment Research cut Momo from a buy rating to a hold rating in a report on Wednesday, May 16th. Citigroup lifted their price objective on Momo from $43.00 to $56.00 and gave the stock a buy rating in a report on Tuesday, May 29th. Nomura lifted their price objective on Momo to $53.00 and gave the stock a buy rating in a report on Wednesday, May 30th. Finally, Benchmark lifted their price objective on Momo from $48.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $49.91.
NASDAQ:MOMO opened at $40.51 on Friday. Momo has a 52 week low of $22.49 and a 52 week high of $54.24. The stock has a market cap of $8.42 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.
A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Momo by 104.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,494,700 shares of the information services provider’s stock worth $195,519,000 after buying an additional 2,300,100 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Momo by 365.6% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 738,900 shares of the information services provider’s stock worth $32,142,000 after purchasing an additional 580,200 shares in the last quarter. Korea Investment CORP lifted its stake in Momo by 30.5% in the 2nd quarter. Korea Investment CORP now owns 112,100 shares of the information services provider’s stock worth $4,876,000 after purchasing an additional 26,200 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in Momo by 400.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 50,000 shares of the information services provider’s stock worth $2,175,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. purchased a new position in Momo in the 2nd quarter worth approximately $213,000. Institutional investors own 46.66% of the company’s stock.
Momo Company Profile
Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.
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