Momo (NASDAQ:MOMO) Sets New 12-Month Low at $10.77

Momo Inc. (NASDAQ:MOMO) shares reached a new 52-week low during trading on Monday . The stock traded as low as $10.77 and last traded at $10.93, with a volume of 24965 shares trading hands. The stock had previously closed at $11.35.

Several research firms have recently commented on MOMO. Zacks Investment Research raised Momo from a “strong sell” rating to a “hold” rating in a report on Thursday, September 2nd. Citigroup reduced their price target on Momo from $18.30 to $18.00 and set a “buy” rating for the company in a report on Friday, August 27th. They noted that the move was a valuation call. Finally, Morgan Stanley raised Momo from an “underweight” rating to an “equal weight” rating and set a $13.00 price target for the company in a report on Monday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.08.

The firm has a fifty day moving average of $12.51 and a 200-day moving average of $14.04. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 7.54 and a beta of 1.50. The company has a quick ratio of 4.48, a current ratio of 4.48 and a debt-to-equity ratio of 0.31.

Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Wednesday, August 25th. The information services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $2.35. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Momo had a return on equity of 13.86% and a net margin of 13.85%. Momo’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.05 earnings per share. As a group, research analysts forecast that Momo Inc. will post 0.95 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. purchased a new position in Momo during the first quarter worth $3,130,000. Dimensional Fund Advisors LP increased its position in Momo by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,305,811 shares of the information services provider’s stock worth $46,122,000 after buying an additional 604,141 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Momo during the first quarter worth $385,000. Commonwealth Equity Services LLC purchased a new position in Momo during the first quarter worth $207,000. Finally, Fifth Third Bancorp increased its position in Momo by 21.6% during the first quarter. Fifth Third Bancorp now owns 12,110 shares of the information services provider’s stock worth $179,000 after buying an additional 2,151 shares in the last quarter. 60.12% of the stock is owned by hedge funds and other institutional investors.

Momo Company Profile (NASDAQ:MOMO)

Hello Group, Inc operates as a mobile-based social networking platform. The platform includes Momo mobile application and related features, functionalities, tools and services that are provided to users, customers and platform partners. It offerings includes live video, value added and mobile game services.

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