Momo Inc (MOMO) Trading 8.3% Higher
Momo Inc (NASDAQ:MOMO) traded up 8.3% on Monday . The company traded as high as $23.48 and last traded at $23.45, with a volume of 5,043,241 shares changing hands. The stock had previously closed at $21.66.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday. Morgan Stanley raised Momo from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.70 to $28.00 in a report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. assumed coverage on Momo in a report on Wednesday, August 31st. They set an “overweight” rating on the stock.
The company has a market cap of $4.46 billion, a P/E ratio of 168.21 and a beta of 2.05. The firm’s 50 day moving average price is $17.69 and its 200-day moving average price is $14.17.
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Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The business had revenue of $99 million for the quarter, compared to analyst estimates of $30.70 million. On average, analysts predict that Momo Inc will post $0.48 EPS for the current fiscal year.
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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