Momo (NASDAQ:MOMO) Downgraded by BidaskClub

BidaskClub lowered shares of Momo (NASDAQ:MOMO) from a hold rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Virtu Financial from a hold rating to a sell rating in a research report on Tuesday, June 18th. Zacks Investment Research raised HENKEL AG & CO/S from a sell rating to a hold rating in a research report on Thursday, June 6th. Nomura upped their price target on Momo from $47.00 to $49.00 and gave the company a buy rating in a report on Wednesday, May 29th. Finally, Citigroup set a $73.00 price target on Esperion Therapeutics and gave the company a buy rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $42.43.

Shares of Momo stock opened at $35.06 on Wednesday. Momo has a one year low of $22.85 and a one year high of $49.38. The firm has a market capitalization of $6.66 billion, a P/E ratio of 17.89, a PEG ratio of 0.89 and a beta of 2.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s 50-day moving average is $32.96.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.18. Momo had a return on equity of 23.10% and a net margin of 15.96%. The business had revenue of $554.73 million during the quarter, compared to the consensus estimate of $531.78 million. During the same period in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts forecast that Momo will post 1.98 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in MOMO. Financial Gravity Wealth Inc. acquired a new position in Momo in the first quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its holdings in shares of Momo by 21.5% in the first quarter. Quadrant Capital Group LLC now owns 1,694 shares of the information services provider’s stock valued at $64,000 after acquiring an additional 300 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Momo by 55.6% in the first quarter. Advisors Asset Management Inc. now owns 2,014 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 720 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Momo by 242.0% in the first quarter. Daiwa Securities Group Inc. now owns 3,830 shares of the information services provider’s stock valued at $146,000 after acquiring an additional 2,710 shares during the period. Finally, NumerixS Investment Technologies Inc boosted its holdings in shares of Momo by 44.8% in the first quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the information services provider’s stock valued at $158,000 after acquiring an additional 1,300 shares during the period. 58.39% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Momo (NASDAQ:MOMO)

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