Momo Inc (NASDAQ:MOMO)’s share price fell 7.2% during mid-day trading on Monday . The stock traded as low as $30.12 and last traded at $30.59. 4,882,526 shares traded hands during trading, an increase of 2% from the average session volume of 4,804,178 shares. The stock had previously closed at $32.96.

Several research firms have recently issued reports on MOMO. BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. ValuEngine downgraded shares of Momo from a “hold” rating to a “sell” rating in a research note on Saturday, November 10th. 86 Research raised shares of Momo from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, Standpoint Research raised shares of Momo from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Momo presently has an average rating of “Buy” and a consensus target price of $49.41.

The firm has a market cap of $6.57 billion, a PE ratio of 19.99, a PEG ratio of 0.67 and a beta of 1.88. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21.

Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $494.27 million during the quarter, compared to analysts’ expectations of $479.37 million. Momo had a net margin of 25.40% and a return on equity of 37.12%. The business’s revenue was up 58.3% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that Momo Inc will post 2.12 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of MOMO. Acadian Asset Management LLC acquired a new position in shares of Momo during the second quarter valued at about $167,114,000. Renaissance Technologies LLC grew its holdings in shares of Momo by 66.5% during the third quarter. Renaissance Technologies LLC now owns 7,485,200 shares of the information services provider’s stock valued at $327,852,000 after buying an additional 2,990,500 shares during the last quarter. Sylebra HK Co Ltd grew its holdings in shares of Momo by 194.9% during the second quarter. Sylebra HK Co Ltd now owns 1,547,969 shares of the information services provider’s stock valued at $67,337,000 after buying an additional 1,022,971 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new position in shares of Momo during the second quarter valued at about $44,430,000. Finally, Man Group plc grew its holdings in shares of Momo by 73.1% during the third quarter. Man Group plc now owns 1,989,364 shares of the information services provider’s stock valued at $87,134,000 after buying an additional 840,073 shares during the last quarter. Hedge funds and other institutional investors own 53.23% of the company’s stock.

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About Momo (NASDAQ:MOMO)

Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.

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