Momo (MOMO) Price Target Raised to $53.00 at Nomura

Momo (NASDAQ:MOMO) had its target price increased by Nomura to $53.00 in a research note issued on Wednesday, May 30th. The brokerage presently has a “buy” rating on the information services provider’s stock. Nomura’s price objective points to a potential downside of 1.60% from the stock’s previous close.

MOMO has been the topic of several other reports. Zacks Investment Research upgraded Momo from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, March 28th. Vetr downgraded Momo from a “strong-buy” rating to a “buy” rating and set a $41.88 target price on the stock. in a research report on Wednesday, April 11th. BidaskClub downgraded Momo from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. T.H. Capital reiterated a “buy” rating on shares of Momo in a research report on Friday, April 13th. Finally, Morgan Stanley assumed coverage on Momo in a research report on Wednesday, March 28th. They set a “buy” rating and a $51.00 target price on the stock. Sixteen investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $49.91.

MOMO opened at $53.86 on Wednesday. The firm has a market cap of $10.53 billion, a P/E ratio of 35.20, a P/E/G ratio of 1.04 and a beta of 1.67. Momo has a 52 week low of $22.49 and a 52 week high of $54.24.



Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, May 29th. The information services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. Momo had a return on equity of 37.07% and a net margin of 24.68%. The business had revenue of $435.10 million for the quarter, compared to analyst estimates of $398.28 million. During the same quarter last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 64.1% compared to the same quarter last year. research analysts expect that Momo will post 2.32 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC purchased a new position in shares of Momo in the 4th quarter worth about $144,000. Resources Investment Advisors Inc. purchased a new position in shares of Momo in the 1st quarter worth about $157,000. ING Groep NV purchased a new position in shares of Momo in the 1st quarter worth about $224,000. Cetera Advisor Networks LLC purchased a new position in shares of Momo in the 4th quarter worth about $237,000. Finally, Anchor Capital Advisors LLC purchased a new position in shares of Momo in the 1st quarter worth about $263,000. Institutional investors own 45.84% of the company’s stock.

Momo Company Profile

Momo Inc operates as a mobile-based social networking platform in the People's Republic of China. The company's platform includes its Momo mobile application and various related features, functionalities, tools, and services that are provided to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations and interests; and Hani, a live video application.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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