Momo Inc (NASDAQ:MOMO) shares gapped down before the market opened on Friday . The stock had previously closed at $30.39, but opened at $29.61. Momo shares last traded at $27.92, with a volume of 4422215 shares trading hands.
MOMO has been the topic of a number of analyst reports. BidaskClub upgraded shares of Momo from a “hold” rating to a “buy” rating in a research note on Tuesday, January 22nd. Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Morgan Stanley upgraded shares of Momo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $44.00 in a research note on Wednesday, March 13th. Nomura lifted their target price on shares of Momo from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, ValuEngine cut shares of Momo from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $46.11.
The company has a market capitalization of $5.56 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 0.52 and a beta of 2.07. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 0.44.
Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, March 12th. The information services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.42 by $0.17. The business had revenue of $559.10 million for the quarter, compared to analysts’ expectations of $536.45 million. Momo had a net margin of 21.19% and a return on equity of 30.62%. The business’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. Analysts expect that Momo Inc will post 2.38 earnings per share for the current year.
The business also recently declared a special dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a $0.62 dividend. The ex-dividend date was Thursday, April 4th.
Hedge funds have recently made changes to their positions in the business. Groesbeck Investment Management Corp NJ purchased a new stake in Momo in the 1st quarter worth $1,429,000. Hershey Trust Co. lifted its stake in Momo by 117.7% in the 1st quarter. Hershey Trust Co. now owns 27,393 shares of the information services provider’s stock worth $1,048,000 after purchasing an additional 14,808 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in Momo by 27.2% in the 4th quarter. Eqis Capital Management Inc. now owns 12,444 shares of the information services provider’s stock worth $296,000 after purchasing an additional 2,664 shares in the last quarter. First Hawaiian Bank purchased a new stake in Momo in the 1st quarter worth $232,000. Finally, First Manhattan Co. lifted its stake in Momo by 276.1% in the 4th quarter. First Manhattan Co. now owns 738,000 shares of the information services provider’s stock worth $17,527,000 after purchasing an additional 541,800 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.
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About Momo (NASDAQ: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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