Momo Inc (MOMO) Trading Up 2.6%
Momo Inc (NASDAQ:MOMO) was up 2.6% during trading on Monday . The stock traded as high as $13.68 and last traded at $13.49, with a volume of 741,840 shares. The stock had previously closed at $13.15.
Several equities research analysts recently commented on MOMO shares. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, April 14th. TheStreet raised shares of Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th.
The stock has a market capitalization of $2.40 billion and a price-to-earnings ratio of 225.50. The stock has a 50-day moving average of $11.73 and a 200 day moving average of $12.64.
Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, May 17th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Equities analysts predict that Momo Inc will post $0.25 EPS for the current fiscal year.
A hedge fund recently raised its stake in Momo stock. Morgan Stanley increased its stake in Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,425,728 shares of the company’s stock after buying an additional 603,103 shares during the period. Morgan Stanley owned approximately 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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