Shares of Momo Inc (NASDAQ:MOMO) shot up 7.4% during mid-day trading on Monday . The company traded as high as $17.34 and last traded at $17.22, with a volume of 3,338,617 shares traded. The stock had previously closed at $16.04.

Separately, Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st.

The stock has a 50 day moving average price of $13.95 and a 200-day moving average price of $13.03. The company has a market capitalization of $3.89 billion and a price-to-earnings ratio of 146.4293.

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 analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $99 million for the quarter, compared to analysts’ expectations of $30.70 million. Analysts forecast that Momo Inc will post $0.25 EPS 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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