Momo Inc (MOMO) Trading Up 7.4%
Momo Inc (NASDAQ:MOMO) was up 7.4% during mid-day trading on Monday . The stock traded as high as $17.34 and last traded at $17.22, with a volume of 3,338,617 shares trading hands. The stock had previously closed at $16.04.
Separately, Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd.
The stock’s 50 day moving average is $13.57 and its 200-day moving average is $12.88. The company has a market capitalization of $3.28 billion and a price-to-earnings ratio of 123.57.
Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The business earned $99 million during the quarter, compared to analysts’ expectations of $30.70 million. On average, equities research analysts predict that Momo Inc will post $0.25 earnings per share for the current fiscal year.
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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