Momo Inc. (NASDAQ:MOMO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $42.76, but opened at $43.82. Momo shares last traded at $45.08, with a volume of 6,004,099 shares trading hands.

Several equities analysts recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.00 price objective (up from $52.00) on shares of Momo in a research report on Friday, July 14th. Vetr cut Momo from a “strong-buy” rating to a “buy” rating and set a $42.83 price objective on the stock. in a research report on Monday, May 1st. BidaskClub raised Momo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. TheStreet raised Momo from a “c+” rating to a “b” rating in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co cut Momo from an “overweight” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Wednesday, May 24th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.95.

The firm has a market cap of $7.02 billion, a P/E ratio of 33.35 and a beta of 1.91. Momo also saw unusually large options trading activity on Monday. Stock traders bought 12,576 call options on the stock. This represents an increase of approximately 247% compared to the average daily volume of 3,619 call options.

Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, May 23rd. The information services provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.12. Momo had a net margin of 28.59% and a return on equity of 36.36%. The company had revenue of $265.20 million during the quarter, compared to analysts’ expectations of $245.48 million. The company’s revenue for the quarter was up 421.0% compared to the same quarter last year. Equities research analysts anticipate that Momo Inc. will post $1.57 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB bought a new stake in shares of Momo during the first quarter valued at approximately $2,555,000. BNP Paribas Arbitrage SA boosted its stake in shares of Momo by 22,300.0% in the first quarter. BNP Paribas Arbitrage SA now owns 15,680 shares of the information services provider’s stock valued at $534,000 after buying an additional 15,610 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Momo during the first quarter valued at approximately $1,201,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Momo during the first quarter valued at approximately $219,000. Finally, American Century Companies Inc. bought a new stake in shares of Momo during the first quarter valued at approximately $10,140,000. Hedge funds and other institutional investors own 43.47% of the company’s stock.

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Momo Company Profile

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.

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