Momo (MOMO) Shares Down 5.1%
Momo Inc (NASDAQ:MOMO) dropped 5.1% on Thursday . The stock traded as low as $26.38 and last traded at $26.38. Approximately 5,287,099 shares traded hands during trading, an increase of 2% from the average daily volume of 5,200,000 shares. The stock had previously closed at $27.80.
MOMO has been the subject of several analyst reports. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, October 25th. JPMorgan Chase & Co. cut their target price on shares of Momo to $30.00 in a research report on Wednesday, November 29th. UBS Group assumed coverage on shares of Momo in a research report on Tuesday, January 2nd. They issued a “hold” rating and a $28.00 target price for the company. TheStreet raised shares of Momo from a “c+” rating to a “b-” rating in a research report on Monday, December 11th. Finally, Deutsche Bank set a $43.00 target price on shares of Momo and gave the stock a “buy” rating in a research report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.58.
The firm has a market capitalization of $5,760.00, a PE ratio of 18.81 and a beta of 1.79.
Several hedge funds have recently modified their holdings of MOMO. Rational Advisors LLC grew its position in shares of Momo by 108.7% during the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 2,500 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Momo by 213.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock valued at $184,000 after acquiring an additional 5,125 shares during the period. Exane Derivatives bought a new stake in shares of Momo during the 3rd quarter valued at $194,000. Cetera Advisor Networks LLC bought a new stake in shares of Momo during the 4th quarter valued at $237,000. Finally, Caxton Associates LP bought a new stake in shares of Momo during the 3rd quarter valued at $254,000. 39.75% of the stock is owned by hedge funds and other institutional investors.
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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