Momo (MOMO) Cut to Neutral at Citigroup

Momo (NASDAQ:MOMO) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday.

MOMO has been the subject of a number of other reports. Morgan Stanley downgraded shares of Momo from an “overweight” rating to an “equal weight” rating and set a $26.70 price target for the company. in a research report on Friday. ValuEngine upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. TH Capital reduced their price target on shares of Momo to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price target on shares of Momo in a research report on Thursday, November 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Momo presently has an average rating of “Buy” and a consensus target price of $48.05.

NASDAQ:MOMO traded down $1.87 during mid-day trading on Friday, reaching $25.18. The stock had a trading volume of 3,086,524 shares, compared to its average volume of 3,826,645. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.31 billion, a P/E ratio of 16.46, a PEG ratio of 0.65 and a beta of 1.84. Momo has a twelve month low of $23.45 and a twelve month high of $54.24.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, December 5th. The information services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.09. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $535.30 million. Momo had a net margin of 25.40% and a return on equity of 37.12%. The firm’s revenue was up 51.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Analysts expect that Momo will post 2.12 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC increased its stake in shares of Momo by 854.0% during the 3rd quarter. Virtu Financial LLC now owns 94,684 shares of the information services provider’s stock worth $4,147,000 after purchasing an additional 84,759 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Momo by 39.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 107,324 shares of the information services provider’s stock worth $4,669,000 after acquiring an additional 30,511 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Momo in the 2nd quarter worth approximately $1,750,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Momo by 63.6% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,200 shares of the information services provider’s stock worth $313,000 after acquiring an additional 2,800 shares during the period. Finally, Korea Investment CORP grew its stake in Momo by 30.5% in the 2nd quarter. Korea Investment CORP now owns 112,100 shares of the information services provider’s stock worth $4,876,000 after acquiring an additional 26,200 shares during the period. 55.25% of the stock is owned by institutional investors and hedge funds.

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 videos, 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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