ValuEngine Upgrades Momo (MOMO) to Buy
ValuEngine upgraded shares of Momo (NASDAQ:MOMO) from a hold rating to a buy rating in a research note issued to investors on Friday.
Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of Momo from a sell rating to a hold rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered shares of Momo from a buy rating to a hold rating in a research report on Tuesday, August 7th. Standpoint Research upgraded shares of Momo from a hold rating to a buy rating in a research report on Tuesday, July 31st. Jefferies Financial Group upped their target price on shares of Momo to $60.00 and gave the stock a buy rating in a research report on Monday, June 11th. Finally, UBS Group upgraded shares of Momo from a neutral rating to a buy rating and set a $60.00 target price on the stock in a research report on Thursday, May 31st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Momo presently has an average rating of Buy and a consensus target price of $49.41.
Shares of MOMO opened at $46.01 on Friday. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21. Momo has a twelve month low of $22.49 and a twelve month high of $54.24. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 0.87 and a beta of 1.58.
Hedge funds have recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new stake in shares of Momo in the second quarter valued at approximately $135,000. Resources Investment Advisors Inc. acquired a new stake in shares of Momo in the first quarter valued at approximately $157,000. Liberty Mutual Group Asset Management Inc. acquired a new stake in shares of Momo in the second quarter valued at approximately $213,000. ING Groep NV acquired a new stake in shares of Momo in the first quarter valued at approximately $224,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Momo in the second quarter valued at approximately $242,000. Institutional investors and hedge funds own 53.47% of the company’s stock.
Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.
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