Momo Inc (NASDAQ:MOMO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Momo Inc (NASDAQ:MOMO) have earned an average recommendation of “Buy” from the ten analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.40.

A number of equities analysts recently commented on the stock. ValuEngine raised shares of Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Zacks Investment Research lowered shares of Momo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group assumed coverage on shares of Momo in a research report on Monday, August 5th. They set a “buy” rating and a $40.40 price target on the stock. Finally, BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th.

NASDAQ:MOMO traded up $0.47 during mid-day trading on Thursday, reaching $31.45. 2,577,309 shares of the company’s stock were exchanged, compared to its average volume of 3,341,169. Momo has a one year low of $22.85 and a one year high of $43.80. The firm has a market capitalization of $6.43 billion, a PE ratio of 16.05 and a beta of 2.25. The business’s fifty day simple moving average is $34.12 and its two-hundred day simple moving average is $33.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.03 and a current ratio of 6.03.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, August 27th. The information services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). Momo had a return on equity of 21.74% and a net margin of 14.68%. The business had revenue of $604.90 million for the quarter, compared to the consensus estimate of $584.68 million. During the same period in the prior year, the business posted $0.66 earnings per share. Momo’s revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts forecast that Momo will post 1.49 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Prime Capital Management Co Ltd grew its stake in Momo by 5.1% during the second quarter. Prime Capital Management Co Ltd now owns 5,391,940 shares of the information services provider’s stock worth $193,031,000 after buying an additional 261,472 shares in the last quarter. British Airways Pensions Investment Management Ltd grew its stake in Momo by 10.8% during the first quarter. British Airways Pensions Investment Management Ltd now owns 70,867 shares of the information services provider’s stock worth $2,710,000 after buying an additional 6,900 shares in the last quarter. AXA grew its stake in Momo by 1.9% during the second quarter. AXA now owns 193,406 shares of the information services provider’s stock worth $6,924,000 after buying an additional 3,590 shares in the last quarter. Morgan Stanley grew its stake in Momo by 207.3% during the second quarter. Morgan Stanley now owns 4,390,872 shares of the information services provider’s stock worth $157,193,000 after buying an additional 2,961,912 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in Momo by 11.5% during the second quarter. Virginia Retirement Systems ET AL now owns 73,800 shares of the information services provider’s stock worth $2,642,000 after buying an additional 7,600 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

About Momo

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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