Momo (NASDAQ:MOMO) Updates Q2 2021 Earnings Guidance

Momo (NASDAQ:MOMO) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $555.12 million-570.54 million, compared to the consensus revenue estimate of $563.68 million.

Several research analysts have recently issued reports on the stock. Daiwa Capital Markets lowered shares of Momo from an outperform rating to a hold rating in a research note on Friday, March 26th. Morgan Stanley reiterated an underweight rating and issued a $15.00 price target on shares of Momo in a research report on Monday, March 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Momo from a neutral rating to a buy rating and increased their price target for the company from $16.10 to $19.30 in a research report on Friday, March 26th. Zacks Investment Research upgraded shares of Momo from a strong sell rating to a hold rating in a research report on Thursday, June 3rd. Finally, DA Davidson downgraded shares of Momo from a buy rating to a neutral rating in a research report on Friday, March 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $19.47.

MOMO stock traded up $0.82 during mid-day trading on Thursday, hitting $15.44. 6,947,105 shares of the company were exchanged, compared to its average volume of 3,969,917. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 10.91 and a beta of 1.49. The business has a 50 day simple moving average of $14.54. Momo has a 1-year low of $12.52 and a 1-year high of $22.05.

Momo (NASDAQ:MOMO) last announced its earnings results on Monday, June 7th. The information services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.34 by $0.57. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.40 billion. Momo had a net margin of 14.05% and a return on equity of 14.96%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the company posted $3.34 EPS. On average, equities research analysts forecast that Momo will post 1.16 EPS for the current fiscal year.

The business also recently announced an annual dividend, which was paid on Friday, April 30th. Shareholders of record on Tuesday, April 13th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, April 12th. This represents a yield of 4.29%.

Momo Company Profile

Momo Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as live chats and mobile karaoke experience.

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