Momo Inc (MOMO) Sees Strong Trading Volume
Momo Inc (NASDAQ:MOMO) saw an uptick in trading volume on Tuesday . 4,290,332 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 3,309,675 shares.The stock last traded at $22.29 and had previously closed at $22.01.
A number of research firms recently weighed in on MOMO. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. JPMorgan Chase & Co. began coverage on Momo in a research note on Wednesday. They issued an “overweight” rating on the stock.
The company has a 50 day moving average price of $15.70 and a 200-day moving average price of $13.58. The stock has a market cap of $4.48 billion and a P/E ratio of 168.93.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $99 million for the quarter, compared to analyst estimates of $30.70 million. Analysts predict that Momo Inc will post $0.36 EPS for the current year.
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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