Momo Inc (MOMO) Stock Price Up 2.6%
Momo Inc (NASDAQ:MOMO) shares rose 2.6% during trading on Monday . The company traded as high as $13.68 and last traded at $13.49, with a volume of 741,840 shares changing hands. The stock had previously closed at $13.15.
MOMO has been the topic of a number of recent analyst reports. TheStreet raised shares of Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st.
The firm has a 50 day moving average price of $11.77 and a 200 day moving average price of $12.59. The firm has a market capitalization of $2.41 billion and a PE ratio of 226.00.
Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, May 17th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. On average, equities analysts forecast that Momo Inc will post $0.25 earnings per share for the current year.
An institutional investor recently raised its position in Momo stock. Morgan Stanley raised its position in shares of Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,425,728 shares of the company’s stock after buying an additional 603,103 shares during the period. Morgan Stanley owned about 1.38% of Momo worth $38,859,000 at the end of the most recent reporting period.
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company enables users to establish social relationships based on location and interests. Its 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.
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