Momo (NASDAQ:MOMO) Upgraded at BidaskClub
Other equities research analysts have also issued reports about the stock. Citigroup upgraded shares of Momo from a neutral rating to a buy rating and boosted their target price for the company from $34.00 to $40.00 in a research note on Tuesday, May 28th. Zacks Investment Research upgraded Momo from a strong sell rating to a hold rating in a research note on Wednesday, July 24th. Nomura upped their price objective on Momo from $47.00 to $49.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Jefferies Financial Group began coverage on Momo in a research note on Monday, August 5th. They issued a buy rating and a $40.40 price objective for the company. Finally, ValuEngine upgraded Momo from a sell rating to a hold rating in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Momo presently has an average rating of Buy and an average target price of $39.91.
Shares of MOMO opened at $33.09 on Thursday. The firm has a market cap of $6.37 billion, a PE ratio of 19.61 and a beta of 2.29. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $33.75 and a two-hundred day simple moving average of $33.45. Momo has a 1-year low of $22.85 and a 1-year high of $49.38.
Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Momo by 31.2% in the fourth quarter. Principal Financial Group Inc. now owns 51,833 shares of the information services provider’s stock valued at $1,231,000 after purchasing an additional 12,337 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Momo by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,160,402 shares of the information services provider’s stock worth $27,608,000 after acquiring an additional 119,430 shares during the period. Norges Bank bought a new position in shares of Momo during the 4th quarter worth approximately $28,666,000. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Momo by 15.3% during the 1st quarter. Baltimore Washington Financial Advisors Inc. now owns 161,505 shares of the information services provider’s stock worth $6,175,000 after acquiring an additional 21,455 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in shares of Momo by 19.8% during the 1st quarter. Eqis Capital Management Inc. now owns 14,912 shares of the information services provider’s stock worth $570,000 after acquiring an additional 2,468 shares during the period. Hedge funds and other institutional investors own 58.69% 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 talent shows, short videos, social games, and other video- and audio-based interactive experiences.
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