BidaskClub upgraded shares of Momo (NASDAQ:MOMO) from a sell rating to a hold rating in a research report report published on Friday.
Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of Momo from a c+ rating to a b- rating in a report on Monday, December 11th. Deutsche Bank set a $46.00 target price on shares of Momo and gave the stock a buy rating in a report on Wednesday, March 7th. Vetr cut shares of Momo from a strong-buy rating to a buy rating and set a $40.05 target price on the stock. in a report on Thursday. Zacks Investment Research raised shares of Momo from a sell rating to a hold rating in a report on Thursday, February 1st. Finally, Jefferies Group reissued a buy rating and issued a $45.00 target price on shares of Momo in a report on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $41.70.
Momo (MOMO) opened at $37.54 on Friday. Momo has a twelve month low of $22.49 and a twelve month high of $46.69. The stock has a market cap of $7,454.62, a PE ratio of 24.38 and a beta of 1.68.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Momo during the fourth quarter valued at approximately $346,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Momo by 26.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,800 shares of the information services provider’s stock valued at $754,000 after buying an additional 6,400 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Momo during the fourth quarter valued at approximately $144,000. Macquarie Group Ltd. raised its holdings in shares of Momo by 17.4% during the fourth quarter. Macquarie Group Ltd. now owns 94,300 shares of the information services provider’s stock valued at $5,402,000 after buying an additional 14,000 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Momo by 10.7% during the fourth quarter. LPL Financial LLC now owns 27,938 shares of the information services provider’s stock valued at $684,000 after buying an additional 2,690 shares during the last quarter. 38.56% of the stock is currently owned by institutional investors.
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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.
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