Latest Stocks: Momo Inc (MOMO) Receives $33.87 Average Target Price from Analysts

Latest Stocks: Momo Inc (MOMO) Receives $33.87 Average Target Price from Analysts

Momo Inc (NASDAQ:MOMO) has been given a consensus recommendation of “Buy” by the sixteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $39.87.

MOMO has been the topic of several research reports. Vetr raised Momo from a “buy” rating to a “strong-buy” rating and set a $42.54 target price on the stock in a research report on Tuesday, April 11th. Zacks Investment Research raised Momo from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research report on Thursday, March 9th. Benchmark Co. began coverage on Momo in a research report on Tuesday, April 18th. They issued a “buy” rating and a $44.00 target price on the stock. Jefferies Group LLC reiterated a “buy” rating on shares of Momo in a research note on Tuesday, April 11th. Finally, JPMorgan Chase & Co. downgraded Momo from an “overweight” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Wednesday, May 24th.

Momo (NASDAQ MOMO) opened at 40.08 on Tuesday. The company has a 50-day moving average of $39.09 and a 200 day moving average of $29.05. The stock has a market cap of $7.81 billion, a P/E ratio of 37.11 and a beta of 1.86. Momo has a 1-year low of $8.88 and a 1-year high of $45.95. Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The firm had revenue of $265.20 million for the quarter, compared to analyst estimates of $245.48 million. Momo had a return on equity of 56.73% and a net margin of 33.50%. The firm’s revenue was up 421.0% compared to the same quarter last year. Analysts predict that Momo will post $1.58 EPS for the current year.

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