Momo (MOMO) Upgraded to Hold at BidaskClub
BidaskClub upgraded shares of Momo (NASDAQ:MOMO) from a sell rating to a hold rating in a research note published on Tuesday morning.
A number of other research firms have also weighed in on MOMO. Vetr raised Momo from a buy rating to a strong-buy rating and set a $42.17 price objective for the company in a research note on Wednesday, September 13th. Jefferies Group reaffirmed a buy rating and issued a $54.00 price objective on shares of Momo in a research note on Tuesday, October 3rd. Zacks Investment Research raised Momo from a hold rating to a buy rating and set a $35.00 price target for the company in a research note on Wednesday, October 25th. Deutsche Bank set a $43.00 price target on Momo and gave the company a buy rating in a research note on Tuesday, November 28th. Finally, JPMorgan Chase & Co. dropped their price target on Momo to $30.00 in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $41.23.
Momo (MOMO) traded down $0.40 during midday trading on Tuesday, hitting $26.47. The stock had a trading volume of 4,374,698 shares, compared to its average volume of 4,810,000. The company has a market capitalization of $5,260.00, a price-to-earnings ratio of 18.01 and a beta of 1.54. Momo has a 1 year low of $21.30 and a 1 year high of $46.69.
A number of institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Momo during the second quarter valued at approximately $101,000. D.A. Davidson & CO. purchased a new stake in Momo during the second quarter valued at approximately $136,000. Rational Advisors LLC raised its position in Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 2,500 shares during the period. ETF Managers Group LLC purchased a new stake in Momo during the second quarter valued at approximately $200,000. Finally, Exane Derivatives purchased a new stake in Momo during the third quarter valued at approximately $194,000. 39.75% of the stock is owned by institutional investors.
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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