Momo (NASDAQ:MOMO) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They presently have a $41.88 price objective on the information services provider’s stock. Vetr‘s price target would suggest a potential upside of 18.34% from the stock’s current price.
Several other research analysts have also issued reports on the stock. Morgan Stanley began coverage on shares of Momo in a research report on Wednesday, March 28th. They issued a “buy” rating and a $51.00 price target on the stock. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, March 28th. Bank of America lifted their price target on shares of Momo from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, March 19th. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, Deutsche Bank set a $46.00 price target on shares of Momo and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $43.35.
NASDAQ MOMO opened at $35.39 on Wednesday. The company has a market cap of $7,360.92, a P/E ratio of 23.13 and a beta of 1.55. Momo has a 12 month low of $22.49 and a 12 month high of $46.69.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Castleark Management LLC purchased a new position in Momo during the 4th quarter worth approximately $144,000. Benjamin F. Edwards & Company Inc. grew its position in Momo by 213.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock worth $184,000 after purchasing an additional 5,125 shares in the last quarter. Caxton Associates LP purchased a new position in Momo during the 3rd quarter worth approximately $254,000. Cetera Advisor Networks LLC purchased a new position in Momo during the 4th quarter worth approximately $237,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Momo by 22.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,871 shares of the information services provider’s stock worth $282,000 after purchasing an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 38.33% 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.
To view Vetr’s full report, visit Vetr’s official website.
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