Momo Inc. (MOMO) Shares Gap Down to $33.98

Shares of Momo Inc. (NASDAQ:MOMO) gapped down prior to trading on Thursday . The stock had previously closed at $34.80, but opened at $33.98. Momo shares last traded at $32.81, with a volume of 4,649,931 shares trading hands.

Several research firms have commented on MOMO. Zacks Investment Research cut Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet upgraded Momo from a “c+” rating to a “b” rating in a report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and issued a $54.00 price target on shares of Momo in a report on Wednesday, August 16th. BidaskClub upgraded Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Vetr cut 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $41.81.

The stock has a 50 day moving average price of $34.40 and a 200 day moving average price of $38.36. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 25.01 and a beta of 1.82.

Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Momo had a return on equity of 38.94% and a net margin of 27.00%. The company had revenue of $312.20 million for the quarter, compared to analyst estimates of $287.84 million. Momo’s revenue was up 31120.0% on a year-over-year basis. On average, equities analysts expect that Momo Inc. will post $1.66 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Momo in the 2nd quarter worth about $101,000. D.A. Davidson & CO. acquired a new position in Momo in the 2nd quarter worth about $136,000. Benjamin F. Edwards & Company Inc. acquired a new position in Momo in the 2nd quarter worth about $155,000. Alta Advisers Ltd acquired a new position in Momo in the 2nd quarter worth about $156,000. Finally, ETF Managers Group LLC acquired a new position in Momo in the 2nd quarter worth about $200,000. 39.15% of the stock is currently owned by institutional investors.

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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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