BidaskClub upgraded shares of Momo (NASDAQ:MOMO) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
MOMO has been the topic of a number of other reports. UBS Group began coverage on shares of Momo in a research note on Tuesday, January 2nd. They issued a hold rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Momo from a neutral rating to an overweight rating in a research note on Friday, January 26th. Vetr lowered shares of Momo from a strong-buy rating to a buy rating and set a $40.05 price objective on the stock. in a research note on Thursday, March 8th. Jefferies Group reaffirmed a buy rating and issued a $45.00 price objective on shares of Momo in a research note on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Momo from a sell rating to a hold rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $41.70.
Shares of Momo (NASDAQ MOMO) opened at $37.04 on Friday. Momo has a 1-year low of $22.49 and a 1-year high of $46.69. The firm has a market cap of $7,360.00, a P/E ratio of 24.21 and a beta of 1.68.
Several institutional investors have recently added to or reduced their stakes in MOMO. Vanguard Group Inc. acquired a new position in shares of Momo during the 2nd quarter valued at $16,627,000. Parametric Portfolio Associates LLC acquired a new position in shares of Momo during the 2nd quarter valued at $629,000. Royal Bank of Canada lifted its position in shares of Momo by 63.8% during the 2nd quarter. Royal Bank of Canada now owns 8,332 shares of the information services provider’s stock valued at $308,000 after acquiring an additional 3,246 shares during the period. Nationwide Fund Advisors lifted its position in shares of Momo by 10.7% during the 3rd quarter. Nationwide Fund Advisors now owns 60,130 shares of the information services provider’s stock valued at $1,884,000 after acquiring an additional 5,790 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Momo by 15.7% during the 3rd quarter. First Trust Advisors LP now owns 106,319 shares of the information services provider’s stock valued at $3,332,000 after acquiring an additional 14,459 shares during the period. Institutional investors own 38.56% of the company’s stock.
Momo Company Profile
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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