Momo (MOMO) Stock Price Up 9.6%

Shares of Momo Inc (NASDAQ:MOMO) rose 9.6% during mid-day trading on Wednesday . The company traded as high as $33.84 and last traded at $33.57. Approximately 6,843,914 shares were traded during mid-day trading, an increase of 41% from the average daily volume of 4,849,174 shares. The stock had previously closed at $30.64.

MOMO has been the subject of a number of research analyst reports. ValuEngine raised Momo from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Standpoint Research raised Momo from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, BidaskClub raised Momo from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. Momo currently has an average rating of “Buy” and a consensus target price of $49.41.

The company has a market cap of $6.14 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 0.60 and a beta of 1.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.46 and a quick ratio of 3.46.



Momo (NASDAQ:MOMO) last released its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Momo had a return on equity of 37.12% and a net margin of 25.40%. The firm had revenue of $494.27 million during the quarter, compared to the consensus estimate of $479.37 million. During the same period last year, the business posted $0.35 EPS. Momo’s quarterly revenue was up 58.3% on a year-over-year basis. As a group, analysts predict that Momo Inc will post 2.19 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Momo by 3.4% during the second quarter. BlackRock Inc. now owns 6,672,385 shares of the information services provider’s stock worth $290,249,000 after purchasing an additional 219,866 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Momo by 104.8% during the second quarter. Renaissance Technologies LLC now owns 4,494,700 shares of the information services provider’s stock worth $195,519,000 after purchasing an additional 2,300,100 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Momo during the second quarter worth $167,114,000. Morgan Stanley boosted its holdings in shares of Momo by 3.7% during the second quarter. Morgan Stanley now owns 2,050,368 shares of the information services provider’s stock worth $89,191,000 after purchasing an additional 72,564 shares during the last quarter. Finally, Sylebra HK Co Ltd boosted its holdings in shares of Momo by 194.9% during the second quarter. Sylebra HK Co Ltd now owns 1,547,969 shares of the information services provider’s stock worth $67,337,000 after purchasing an additional 1,022,971 shares during the last quarter. Hedge funds and other institutional investors own 53.32% of the company’s stock.

About Momo (NASDAQ:MOMO)

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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