Momo (MOMO) Price Target Raised to $47.00 at Nomura

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Momo (NASDAQ:MOMO) had its price objective increased by Nomura from $41.00 to $47.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also commented on MOMO. Zacks Investment Research lowered Momo from a buy rating to a hold rating in a research note on Saturday, March 9th. BidaskClub lowered Momo from a buy rating to a hold rating in a research note on Saturday, February 9th. UBS Group set a $35.00 target price on Momo and gave the company a buy rating in a research note on Tuesday, December 11th. Citigroup lowered Momo from a buy rating to a neutral rating in a research note on Friday, December 7th. Finally, Morgan Stanley upgraded Momo from an equal weight rating to an overweight rating and upped their target price for the company from $33.00 to $44.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Momo presently has a consensus rating of Buy and an average target price of $46.17.

Shares of NASDAQ MOMO opened at $38.50 on Wednesday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 19.64, a PEG ratio of 0.64 and a beta of 2.15. Momo has a one year low of $22.85 and a one year high of $54.24.

Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, March 12th. The information services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.17. The business had revenue of $559.10 million during the quarter, compared to analyst estimates of $536.45 million. Momo had a return on equity of 31.92% and a net margin of 21.19%. Momo’s revenue was up 44.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Research analysts predict that Momo will post 2.37 EPS for the current fiscal year.

The business also recently disclosed a special dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, April 4th.

A number of institutional investors have recently added to or reduced their stakes in MOMO. Bank of New York Mellon Corp increased its stake in shares of Momo by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 154,391 shares of the information services provider’s stock valued at $6,716,000 after buying an additional 10,635 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Momo by 59.6% in the third quarter. First Trust Advisors LP now owns 96,541 shares of the information services provider’s stock valued at $4,228,000 after buying an additional 36,044 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Momo in the third quarter valued at $201,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Momo in the third quarter valued at $321,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Momo in the third quarter valued at $211,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.

Momo Company Profile

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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Analyst Recommendations for Momo (NASDAQ:MOMO)

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