Momo Inc (MOMO) Trading Up 1.9%
Momo Inc (NASDAQ:MOMO) shares were up 1.9% during trading on Wednesday . The company traded as high as $23.18 and last traded at $23.04, with a volume of 3,357,450 shares changing hands. The stock had previously closed at $22.61.
A number of research analysts have recently commented on MOMO shares. JPMorgan Chase & Co. began coverage on Momo in a report on Wednesday. They set an “overweight” rating on the stock. Zacks Investment Research lowered Momo from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st.
The stock’s 50 day moving average price is $16.03 and its 200-day moving average price is $13.65. The firm has a market cap of $4.55 billion and a PE ratio of 171.43.
Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $99 million for the quarter, compared to analyst estimates of $30.70 million. On average, equities research analysts forecast that Momo Inc will post $0.36 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’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.