Wall Street analysts expect Momo Inc (NASDAQ:MOMO) to post sales of $585.38 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Momo’s earnings. The highest sales estimate is $589.57 million and the lowest is $581.18 million. Momo posted sales of $494.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.4%. The firm is expected to announce its next earnings report on Wednesday, August 28th.
On average, analysts expect that Momo will report full-year sales of $2.40 billion for the current fiscal year, with estimates ranging from $2.37 billion to $2.43 billion. For the next financial year, analysts expect that the company will post sales of $2.82 billion, with estimates ranging from $2.78 billion to $2.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Momo.
Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.18. The business had revenue of $554.73 million during the quarter, compared to the consensus estimate of $531.78 million. Momo had a net margin of 15.96% and a return on equity of 23.10%. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share.
Several research firms recently weighed in on MOMO. Nomura upped their price objective on shares of Momo from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Citigroup set a $73.00 price target on shares of Esperion Therapeutics and gave the company a “buy” rating in a report on Tuesday, May 28th. BidaskClub downgraded shares of Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Finally, Zacks Investment Research raised shares of HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Momo currently has a consensus rating of “Buy” and an average target price of $42.43.
MOMO stock traded up $1.61 during trading on Tuesday, hitting $35.06. The company had a trading volume of 3,815,815 shares, compared to its average volume of 2,136,548. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 0.93 and a beta of 2.30. The firm has a 50 day moving average price of $32.96. Momo has a fifty-two week low of $22.85 and a fifty-two week high of $49.38. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.46.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Momo by 14.2% during the 4th quarter. BlackRock Inc. now owns 7,504,573 shares of the information services provider’s stock worth $178,235,000 after buying an additional 934,298 shares during the period. Bank of New York Mellon Corp raised its holdings in Momo by 10.8% during the 4th quarter. Bank of New York Mellon Corp now owns 215,330 shares of the information services provider’s stock worth $5,114,000 after buying an additional 20,993 shares during the period. Raymond James & Associates raised its holdings in Momo by 51.6% during the 4th quarter. Raymond James & Associates now owns 66,757 shares of the information services provider’s stock worth $1,585,000 after buying an additional 22,721 shares during the period. Northern Trust Corp raised its holdings in Momo by 0.4% during the 4th quarter. Northern Trust Corp now owns 1,037,200 shares of the information services provider’s stock worth $24,633,000 after buying an additional 4,617 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in Momo during the 4th quarter worth about $71,000. 58.39% 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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