Zacks Investment Research Upgrades Momo (NASDAQ:MOMO) to “Hold”

Zacks Investment Research upgraded shares of Momo (NASDAQ:MOMO) from a strong sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Momo Inc. provides mobile-based social networking platform primarily in the Peoples Republic of China. Its platform includes mobile applications and related features, functionalities, tools and services. The Company offers two types of mobile game services non-exclusive mobile game services and exclusive mobile game services. It also provides membership subscription and other services which include paid emoticons and mobile marketing services. Momo Inc. is headquartered in Beijing, the Peoples Republic of China. “

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Momo from a sell rating to a strong sell rating in a research report on Saturday, July 25th. Daiwa Capital Markets lowered shares of Momo from a buy rating to a neutral rating and set a $22.00 target price for the company. in a research report on Thursday, May 28th. JPMorgan Chase & Co. dropped their target price on shares of Momo from $36.00 to $35.00 and set an overweight rating for the company in a research report on Monday, June 1st. Nomura Instinet reiterated a neutral rating on shares of Momo in a research report on Friday, May 29th. Finally, UBS Group lowered their price objective on shares of Momo from $34.00 to $33.50 and set a buy rating for the company in a report on Monday, May 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $33.13.

Shares of MOMO stock opened at $18.47 on Wednesday. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 0.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.68 and a current ratio of 4.68. Momo has a 52 week low of $16.61 and a 52 week high of $40.87. The firm’s 50-day simple moving average is $18.90 and its two-hundred day simple moving average is $24.10.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Thursday, May 28th. The information services provider reported $3.34 EPS for the quarter, topping the consensus estimate of $0.34 by $3.00. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.48 billion. Momo had a net margin of 19.07% and a return on equity of 25.51%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Analysts forecast that Momo will post 1.7 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Momo in the first quarter valued at $3,130,000. Advisors Asset Management Inc. lifted its position in Momo by 90.9% in the fourth quarter. Advisors Asset Management Inc. now owns 6,280 shares of the information services provider’s stock worth $210,000 after buying an additional 2,991 shares during the last quarter. Geode Capital Management LLC lifted its position in Momo by 13.5% in the fourth quarter. Geode Capital Management LLC now owns 531,087 shares of the information services provider’s stock worth $17,692,000 after buying an additional 63,089 shares during the last quarter. Norges Bank bought a new stake in Momo in the fourth quarter worth $50,378,000. Finally, Hexavest Inc. lifted its position in Momo by 96.3% in the first quarter. Hexavest Inc. now owns 29,049 shares of the information services provider’s stock worth $630,000 after buying an additional 14,250 shares during the last quarter. 54.99% of the stock is owned by institutional investors.

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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