Momo (NASDAQ:MOMO) Trading 7.3% Higher

Momo Inc (NASDAQ:MOMO) shares traded up 7.3% during mid-day trading on Thursday . The stock traded as high as $14.88 and last traded at $14.77. 6,656,385 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 4,296,043 shares. The stock had previously closed at $13.76.

Several analysts have issued reports on the company. Credit Suisse Group lowered Momo from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Friday, September 4th. Zacks Investment Research raised Momo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Morgan Stanley lowered Momo from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $16.00 to $17.00 in a research note on Friday, September 4th. Nomura reissued a “hold” rating and set a $22.00 price objective on shares of Momo in a research note on Friday, September 4th. Finally, Citigroup lowered Momo from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Friday, September 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $26.59.

The business has a 50 day moving average of $17.37 and a 200 day moving average of $19.81. The company has a market cap of $3.07 billion, a PE ratio of 7.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.51 and a quick ratio of 5.51.

Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Thursday, September 3rd. The information services provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $2.72. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.84 billion. Momo had a return on equity of 22.04% and a net margin of 17.75%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. Sell-side analysts forecast that Momo Inc will post 1.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Advisers LP raised its holdings in Momo by 31.4% in the second quarter. Two Sigma Advisers LP now owns 828,400 shares of the information services provider’s stock worth $14,480,000 after purchasing an additional 197,800 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Momo in the second quarter worth $577,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Momo by 73.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 100,122 shares of the information services provider’s stock worth $1,750,000 after purchasing an additional 42,424 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Momo by 44.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 183,228 shares of the information services provider’s stock worth $3,203,000 after purchasing an additional 56,335 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Momo by 92.0% in the second quarter. Sei Investments Co. now owns 305,895 shares of the information services provider’s stock worth $5,375,000 after purchasing an additional 146,543 shares in the last quarter. Institutional investors and hedge funds own 55.48% of the company’s stock.

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.

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