Momo (NASDAQ:MOMO) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Momo (NASDAQ:MOMO) in a report released on Monday, BenzingaRatingsTable reports. The firm issued a buy rating and a $40.40 target price on the information services provider’s stock.

Other equities analysts also recently issued research reports about the company. Nomura lifted their price objective on Momo from $47.00 to $49.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. BidaskClub downgraded Momo from a hold rating to a sell rating in a research report on Wednesday, July 17th. Zacks Investment Research upgraded Momo from a strong sell rating to a hold rating in a research report on Wednesday, July 24th. Citigroup upgraded Momo from a neutral rating to a buy rating and lifted their price objective for the stock from $34.00 to $40.00 in a research report on Tuesday, May 28th. Finally, ValuEngine upgraded Momo from a sell rating to a hold rating in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Momo presently has a consensus rating of Buy and an average target price of $39.91.

Shares of Momo stock opened at $29.49 on Monday. Momo has a one year low of $22.85 and a one year high of $49.38. The stock has a market capitalization of $5.84 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 0.83 and a beta of 2.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s 50 day moving average is $34.22.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.18. Momo had a return on equity of 23.10% and a net margin of 15.96%. The firm had revenue of $554.73 million for the quarter, compared to the consensus estimate of $531.78 million. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue was up 27.5% compared to the same quarter last year. Equities analysts predict that Momo will post 1.96 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in Momo by 21.5% in the first quarter. Quadrant Capital Group LLC now owns 1,694 shares of the information services provider’s stock valued at $64,000 after purchasing an additional 300 shares during the period. Advisor Group Inc. raised its position in Momo by 2.5% in the second quarter. Advisor Group Inc. now owns 15,403 shares of the information services provider’s stock valued at $551,000 after purchasing an additional 375 shares during the period. First Hawaiian Bank raised its position in Momo by 7.1% in the second quarter. First Hawaiian Bank now owns 6,501 shares of the information services provider’s stock valued at $233,000 after purchasing an additional 431 shares during the period. Shell Asset Management Co. raised its position in Momo by 0.9% in the first quarter. Shell Asset Management Co. now owns 52,835 shares of the information services provider’s stock valued at $2,020,000 after purchasing an additional 467 shares during the period. Finally, Lenox Wealth Management Inc. raised its position in Momo by 2.2% in the second quarter. Lenox Wealth Management Inc. now owns 23,017 shares of the information services provider’s stock valued at $824,000 after purchasing an additional 487 shares during the period. Institutional investors own 58.67% of the company’s stock.

About 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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Analyst Recommendations for Momo (NASDAQ:MOMO)

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