Citigroup downgraded shares of Momo (NASDAQ:MOMO) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports.
MOMO has been the topic of a number of other reports. ValuEngine cut shares of Momo from a hold rating to a sell rating in a research note on Thursday, October 18th. BidaskClub upgraded shares of Momo from a sell rating to a hold rating in a research note on Friday, November 2nd. 86 Research upgraded shares of Momo from a hold rating to a buy rating in a research note on Friday, November 9th. Jefferies Financial Group restated a buy rating and set a $58.00 price target on shares of Momo in a research note on Thursday, November 22nd. Finally, TH Capital dropped their price target on shares of Momo to $40.00 and set a buy rating on the stock in a research note on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $47.05.
Shares of MOMO stock traded down $2.48 during trading on Friday, reaching $24.57. 10,488,189 shares of the company’s stock traded hands, compared to its average volume of 4,373,535. The stock has a market capitalization of $5.39 billion, a P/E ratio of 16.06, a PEG ratio of 0.55 and a beta of 1.84. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21. Momo has a 1 year low of $24.02 and a 1 year high of $54.24.
Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Wednesday, December 5th. The information services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.09. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $535.30 million. Momo had a net margin of 23.24% and a return on equity of 35.60%. Momo’s revenue was up 51.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. On average, equities analysts predict that Momo will post 2.12 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. OLD National Bancorp IN purchased a new stake in Momo in the 3rd quarter worth approximately $201,000. Engineers Gate Manager LP purchased a new stake in shares of Momo during the 3rd quarter valued at $201,000. WINTON GROUP Ltd purchased a new stake in shares of Momo during the 3rd quarter valued at $211,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Momo during the 2nd quarter valued at $213,000. Finally, MML Investors Services LLC purchased a new stake in shares of Momo during the 3rd quarter valued at $217,000. Institutional investors and hedge funds own 55.25% of the company’s stock.
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 videos, short videos, social games, and other video- and audio-based interactive experiences.
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