Momo Inc (NASDAQ:MOMO)’s share price rose 1.9% on Wednesday . The company traded as high as $23.18 and last traded at $23.04, with a volume of 3,357,450 shares trading hands. The stock had previously closed at $22.61.

MOMO has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. JPMorgan Chase & Co. initiated coverage on Momo in a research report on Wednesday. They issued an “overweight” rating for the company.

The stock has a 50 day moving average of $15.39 and a 200 day moving average of $13.51. The firm has a market capitalization of $4.50 billion and a PE ratio of 169.50.

Momo (NASDAQ:MOMO) last issued 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 business earned $99 million during the quarter, compared to the consensus estimate of $30.70 million. On average, analysts predict that Momo Inc will post $0.25 earnings per share 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.