Momo (MOMO) Shares Up 9.9%

Momo Inc. (NASDAQ:MOMO) shares shot up 9.9% during mid-day trading on Tuesday . The company traded as high as $25.13 and last traded at $24.80. 12,949,700 shares traded hands during trading, an increase of 136% from the average session volume of 5,493,370 shares. The stock had previously closed at $22.56.

A number of brokerages have issued reports on MOMO. J P Morgan Chase & Co cut their price target on shares of Momo to $30.00 in a research note on Wednesday, November 29th. Deutsche Bank set a $43.00 price target on shares of Momo and gave the company a “buy” rating in a research note on Tuesday, November 28th. Benchmark cut their price target on shares of Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 29th. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, Jefferies Group reiterated a “buy” rating and issued a $54.00 price objective on shares of Momo in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.23.

The firm has a market capitalization of $4,636.26, a P/E ratio of 16.11 and a beta of 1.55.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The company had revenue of $354.10 million for the quarter, compared to analyst estimates of $342.48 million. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company’s quarterly revenue was up 125.5% on a year-over-year basis. equities analysts predict that Momo Inc. will post 1.45 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Momo during the second quarter valued at $101,000. D.A. Davidson & CO. purchased a new position in Momo during the second quarter valued at $136,000. Rational Advisors LLC lifted its holdings in Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 2,500 shares in the last quarter. Alta Advisers Ltd purchased a new position in Momo during the second quarter valued at $156,000. Finally, Exane Derivatives purchased a new position in Momo during the third quarter valued at $194,000. Institutional investors own 40.60% of the company’s stock.

WARNING: This story was published by Stock Observer and is owned by of Stock Observer. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.thestockobserver.com/2017/12/07/momo-momo-shares-up-9-9.html.

About Momo

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.

Receive News & Ratings for Momo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply