TheStreet upgraded shares of Momo Inc. (NASDAQ:MOMO) from a c+ rating to a b rating in a research note published on Monday morning.

A number of other research firms also recently weighed in on MOMO. Vetr downgraded Momo from a strong-buy rating to a buy rating and set a $42.54 price target on the stock. in a research note on Monday, April 17th. Jefferies Group LLC reissued a buy rating and issued a $52.00 price target (up previously from $42.00) on shares of Momo in a research note on Wednesday, May 24th. Zacks Investment Research downgraded Momo from a buy rating to a hold rating in a research note on Wednesday. HSBC Holdings plc increased their price target on Momo from $43.00 to $50.00 and gave the company a buy rating in a research note on Thursday, May 25th. Finally, Nomura reissued a buy rating and issued a $43.00 price target on shares of Momo in a research note on Wednesday, April 12th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $39.95.

Momo (NASDAQ:MOMO) traded down 1.9275% during mid-day trading on Monday, hitting $44.9172. The stock had a trading volume of 1,271,025 shares. The stock has a 50 day moving average of $40.77 and a 200-day moving average of $34.94. Momo has a 1-year low of $14.70 and a 1-year high of $46.33. The firm has a market cap of $8.76 billion, a P/E ratio of 41.5900 and a beta of 1.91.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, May 23rd. The information services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. The firm had revenue of $265.20 million for the quarter, compared to analyst estimates of $245.48 million. Momo had a return on equity of 36.36% and a net margin of 28.59%. The firm’s revenue was up 421.0% compared to the same quarter last year. Analysts predict that Momo will post $1.56 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Momo Inc. (NASDAQ:MOMO) Upgraded by TheStreet to “B”” was first reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/08/09/momo-inc-nasdaqmomo-upgraded-by-thestreet-to-b.html.

A number of hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC increased its stake in shares of Momo by 77.8% in the first quarter. Penserra Capital Management LLC now owns 68,579 shares of the information services provider’s stock valued at $2,336,000 after buying an additional 30,000 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Momo by 359,875.4% in the first quarter. JPMorgan Chase & Co. now owns 2,062,659 shares of the information services provider’s stock valued at $70,276,000 after buying an additional 2,062,086 shares during the last quarter. Myriad Asset Management Ltd. acquired a new stake in shares of Momo during the first quarter valued at approximately $5,962,000. Ariose Capital Management Ltd acquired a new stake in shares of Momo during the first quarter valued at approximately $15,625,000. Finally, Westpac Banking Corp acquired a new stake in shares of Momo during the first quarter valued at approximately $45,706,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.

About Momo

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.

Analyst Recommendations for Momo (NASDAQ:MOMO)

Receive News & Ratings for Momo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.