Zacks Investment Research lowered shares of Momo Inc. (NASDAQ:MOMO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

According to Zacks, “Momo Inc. provides mobile-based social networking platform primarily in the Peoples Republic of China. Its platform includes mobile applications and related features, functionalities, tools and services. The Company offers two types of mobile game services non-exclusive mobile game services and exclusive mobile game services. It also provides membership subscription and other services which include paid emoticons and mobile marketing services. Momo Inc. is headquartered in Beijing, the Peoples Republic of China. “

Other analysts have also issued research reports about the company. TheStreet upgraded Momo from a c+ rating to a b rating in a report on Monday, August 7th. Vetr lowered Momo from a strong-buy rating to a buy rating and set a $42.25 price target for the company. in a report on Monday, September 4th. Goldman Sachs Group, Inc. (The) initiated coverage on Momo in a report on Wednesday, August 30th. They issued a buy rating and a $56.00 price target for the company. Standpoint Research initiated coverage on Momo in a report on Wednesday, August 30th. They issued a buy rating and a $44.00 price target for the company. Finally, Jefferies Group LLC reiterated a buy rating and issued a $54.00 price target on shares of Momo in a report on Wednesday, August 16th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Momo currently has an average rating of Buy and a consensus price target of $41.39.

Momo (MOMO) opened at 30.47 on Friday. The stock has a 50 day moving average price of $32.99 and a 200-day moving average price of $38.08. Momo has a 1-year low of $16.73 and a 1-year high of $46.69.

Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $312.20 million during the quarter, compared to analyst estimates of $287.84 million. Momo had a return on equity of 38.94% and a net margin of 27.00%. The company’s revenue was up 31120.0% compared to the same quarter last year. Equities analysts forecast that Momo will post $1.66 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of MOMO. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Momo during the second quarter worth $101,000. D.A. Davidson & CO. purchased a new stake in Momo during the second quarter worth $136,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Momo during the second quarter worth $155,000. Alta Advisers Ltd purchased a new stake in Momo during the second quarter worth $156,000. Finally, Exane Derivatives purchased a new stake in Momo during the third quarter worth $194,000. Institutional investors own 39.66% 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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Analyst Recommendations for Momo (NASDAQ:MOMO)

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