BOCOM International Holdings Begins Coverage on Momo Inc (MOMO)

BOCOM International Holdings assumed coverage on shares of Momo Inc (NASDAQ:MOMO) in a research report report published on Monday, May 8th. The brokerage issued a buy rating and a $46.00 price objective on the information services provider’s stock.

A number of other research firms have also commented on MOMO. Vetr lowered Momo from a strong-buy rating to a buy rating and set a $42.54 price objective on the stock. in a research note on Monday, April 17th. Morgan Stanley reiterated an overweight rating and issued a $34.00 price objective on shares of Momo in a research note on Monday, February 27th. TheStreet upgraded Momo from a c rating to a b- rating in a research note on Thursday, April 13th. Finally, Nomura reissued a buy rating and set a $43.00 target price on shares of Momo in a research report on Wednesday, April 12th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $35.26.

Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, March 7th. The information services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Momo had a return on equity of 13.50% and a net margin of 19.51%. The company had revenue of $246.10 million for the quarter, compared to analyst estimates of $195.78 million. Momo’s revenue for the quarter was up 523.0% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: “BOCOM International Holdings Begins Coverage on Momo Inc (MOMO)” was reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://www.themarketsdaily.com/2017/05/20/bocom-international-holdings-initiates-coverage-on-momo-inc-momo-updated.html.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Momo by 18,390.7% in the third quarter. JPMorgan Chase & Co. now owns 83,578 shares of the information services provider’s stock valued at $1,881,000 after buying an additional 83,126 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Momo by 9.1% in the fourth quarter. Renaissance Technologies LLC now owns 769,000 shares of the information services provider’s stock valued at $14,134,000 after buying an additional 64,100 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Momo by 15.0% in the fourth quarter. Guggenheim Capital LLC now owns 51,012 shares of the information services provider’s stock valued at $938,000 after buying an additional 6,654 shares during the last quarter. Tiger Pacific Capital LP acquired a new stake in shares of Momo during the first quarter valued at approximately $7,961,000. Finally, SC China Holding Ltd. acquired a new stake in shares of Momo during the third quarter valued at approximately $73,123,000. Hedge funds and other institutional investors own 14.76% of the company’s stock.

Momo Company Profile

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.

12 Month Chart for NASDAQ:MOMO

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