MOMO has been the subject of several other research reports. Zacks Investment Research lowered Momo from a hold rating to a sell rating in a report on Wednesday, January 3rd. JPMorgan Chase & Co. raised Momo from a neutral rating to an overweight rating in a report on Friday, January 26th. Benchmark cut their price target on Momo from $48.00 to $38.00 and set a buy rating for the company in a report on Wednesday, November 29th. Citigroup started coverage on Momo in a report on Tuesday, February 20th. They set a buy rating and a $40.00 price target for the company. Finally, UBS Group started coverage on Momo in a report on Tuesday, January 2nd. They set a hold rating and a $28.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Momo currently has a consensus rating of Buy and a consensus target price of $41.70.
Shares of Momo (MOMO) opened at $37.54 on Wednesday. Momo has a 1 year low of $22.49 and a 1 year high of $46.69. The company has a market capitalization of $7,450.00, a price-to-earnings ratio of 24.54 and a beta of 1.68.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOMO. Vanguard Group Inc. bought a new position in shares of Momo in the second quarter worth about $16,627,000. Parametric Portfolio Associates LLC bought a new position in shares of Momo in the second quarter worth about $629,000. Voya Investment Management LLC bought a new position in shares of Momo in the second quarter worth about $454,000. Royal Bank of Canada boosted its stake in shares of Momo by 63.8% in the second quarter. Royal Bank of Canada now owns 8,332 shares of the information services provider’s stock worth $308,000 after acquiring an additional 3,246 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of Momo by 10.7% in the third quarter. Nationwide Fund Advisors now owns 60,130 shares of the information services provider’s stock worth $1,884,000 after acquiring an additional 5,790 shares during the period. 38.14% of the stock is owned by hedge funds and other institutional investors.
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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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