Momo Inc (NASDAQ:MOMO) gapped up before the market opened on Thursday . The stock had previously closed at $36.08, but opened at $35.14. Momo shares last traded at $36.20, with a volume of 2,172,512 shares changing hands.
MOMO has been the topic of several analyst reports. Nomura lifted their target price on Momo from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Zacks Investment Research upgraded Momo from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, May 15th. Citigroup upgraded Momo from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $40.00 in a research report on Tuesday, May 28th. ValuEngine upgraded Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Momo has a consensus rating of “Buy” and an average price target of $42.43.
The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $30.04. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 0.96 and a beta of 2.18.
A number of large investors have recently bought and sold shares of MOMO. Amundi Pioneer Asset Management Inc. purchased a new position in Momo in the first quarter worth about $3,130,000. FMR LLC grew its position in Momo by 7.6% in the first quarter. FMR LLC now owns 9,578,720 shares of the information services provider’s stock worth $366,291,000 after acquiring an additional 680,061 shares in the last quarter. Advisors Asset Management Inc. grew its position in Momo by 55.6% in the first quarter. Advisors Asset Management Inc. now owns 2,014 shares of the information services provider’s stock worth $77,000 after acquiring an additional 720 shares in the last quarter. Andra AP fonden purchased a new position in Momo in the first quarter worth about $10,023,000. Finally, FIL Ltd grew its position in Momo by 3,691.2% in the first quarter. FIL Ltd now owns 15,506 shares of the information services provider’s stock worth $593,000 after acquiring an additional 15,097 shares in the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.
Momo Company Profile (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.
Further Reading: 52-Week High/Low Prices For Stock Selection
Receive News & Ratings for Momo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo and related companies with MarketBeat.com's FREE daily email newsletter.