Shares of Momo Inc (NASDAQ:MOMO) have been assigned an average rating of “Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $46.49.

Several brokerages recently issued reports on MOMO. Nomura raised their price target on Momo from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised Momo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $44.00 in a report on Wednesday. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 price target on shares of Momo in a report on Thursday, November 22nd. Finally, BidaskClub raised Momo from a “hold” rating to a “buy” rating in a report on Friday, February 15th.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in Momo by 76.3% in the 4th quarter. Advisors Asset Management Inc. now owns 1,294 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 560 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Momo by 148.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,120 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 670 shares during the period. Elite Wealth Management Inc. increased its position in shares of Momo by 1.3% during the 4th quarter. Elite Wealth Management Inc. now owns 56,347 shares of the information services provider’s stock valued at $1,338,000 after purchasing an additional 741 shares during the period. DAVENPORT & Co LLC increased its position in shares of Momo by 8.8% during the 4th quarter. DAVENPORT & Co LLC now owns 10,580 shares of the information services provider’s stock valued at $251,000 after purchasing an additional 860 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Momo during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.

Shares of NASDAQ MOMO opened at $37.22 on Friday. The company has a market capitalization of $7.41 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.64 and a beta of 2.15. Momo has a 12-month low of $22.85 and a 12-month high of $54.24.

Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, March 12th. The information services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.17. The business had revenue of $559.10 million for the quarter, compared to the consensus estimate of $536.45 million. Momo had a return on equity of 31.92% and a net margin of 21.19%. The business’s revenue was up 44.7% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. On average, analysts forecast that Momo will post 2.37 earnings per share for the current year.

The firm also recently announced a special dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, April 4th.

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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Analyst Recommendations for Momo (NASDAQ:MOMO)

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