Momo Inc (NASDAQ:MOMO) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 5,060,000 shares, a growth of 20.5% from the December 15th total of 4,200,000 shares. Based on an average daily trading volume, of 2,480,000 shares, the short-interest ratio is presently 2.0 days. Currently, 3.0% of the shares of the stock are sold short.
A number of equities analysts recently issued reports on the stock. Benchmark increased their target price on shares of Momo from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. UBS Group increased their target price on shares of Momo from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. ValuEngine upgraded shares of Momo from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Saturday, January 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.20.
Shares of NASDAQ MOMO opened at $38.96 on Wednesday. Momo has a twelve month low of $25.69 and a twelve month high of $41.50. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 19.88 and a beta of 2.18. The firm has a 50-day moving average of $36.22 and a two-hundred day moving average of $34.94.
Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, November 26th. The information services provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. Momo had a net margin of 15.84% and a return on equity of 23.03%. The company had revenue of $622.81 million during the quarter, compared to the consensus estimate of $613.62 million. As a group, research analysts predict that Momo will post 1.84 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Prime Capital Management Co Ltd lifted its holdings in Momo by 5.1% in the 2nd quarter. Prime Capital Management Co Ltd now owns 5,391,940 shares of the information services provider’s stock valued at $193,031,000 after acquiring an additional 261,472 shares during the last quarter. Virtu Financial LLC acquired a new stake in Momo in the 3rd quarter valued at about $620,000. AXA lifted its holdings in Momo by 1.9% in the 2nd quarter. AXA now owns 193,406 shares of the information services provider’s stock valued at $6,924,000 after acquiring an additional 3,590 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Momo by 38.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 773,122 shares of the information services provider’s stock valued at $24,049,000 after acquiring an additional 216,597 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Momo by 0.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 529,992 shares of the information services provider’s stock valued at $16,419,000 after acquiring an additional 4,250 shares during the last quarter. 59.33% of the stock is owned by institutional investors.
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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