Vetr upgraded shares of Momo Inc. (NASDAQ:MOMO) from a buy rating to a strong-buy rating in a report released on Wednesday morning. The firm currently has $42.17 price target on the information services provider’s stock.

Other research analysts have also recently issued reports about the stock. TheStreet raised shares of Momo from a c+ rating to a b rating in a research note on Monday, August 7th. Standpoint Research started coverage on shares of Momo in a research note on Wednesday, August 30th. They issued a buy rating and a $44.00 price objective on the stock. Jefferies Group LLC reissued a buy rating and issued a $54.00 price objective on shares of Momo in a research note on Wednesday, August 16th. HSBC Holdings plc lifted their price objective on shares of Momo from $43.00 to $50.00 and gave the company a buy rating in a research note on Thursday, May 25th. Finally, Deutsche Bank AG raised shares of Momo from a hold rating to a buy rating and lifted their price objective for the company from $30.00 to $52.00 in a research note on Wednesday, May 24th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $41.64.

Momo (NASDAQ MOMO) traded down 0.60% during midday trading on Wednesday, hitting $36.57. The stock had a trading volume of 4,356,581 shares. Momo has a 1-year low of $16.73 and a 1-year high of $46.69. The company’s 50 day moving average is $40.52 and its 200 day moving average is $38.16. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 28.68 and a beta of 1.94.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. Momo had a net margin of 27.00% and a return on equity of 38.94%. Momo’s revenue for the quarter was up 31120.0% compared to the same quarter last year. On average, equities analysts anticipate that Momo will post $1.67 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Momo by 359,875.4% during the first quarter. JPMorgan Chase & Co. now owns 2,062,659 shares of the information services provider’s stock worth $70,276,000 after buying an additional 2,062,086 shares during the last quarter. Myriad Asset Management Ltd. bought a new stake in shares of Momo during the first quarter worth $5,962,000. Westpac Banking Corp bought a new stake in shares of Momo during the first quarter worth $45,706,000. SG Americas Securities LLC grew its stake in shares of Momo by 1,459.7% during the first quarter. SG Americas Securities LLC now owns 104,690 shares of the information services provider’s stock worth $3,567,000 after buying an additional 97,978 shares during the last quarter. Finally, Koch Industries Inc. grew its stake in shares of Momo by 11.1% during the first quarter. Koch Industries Inc. now owns 18,764 shares of the information services provider’s stock worth $639,000 after buying an additional 1,879 shares during the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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