Hello Group (NASDAQ:MOMO) Raised to “Buy” at Wall Street Zen

Hello Group (NASDAQ:MOMO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other brokerages have also issued reports on MOMO. Weiss Ratings lowered Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. UBS Group set a $10.00 price objective on Hello Group in a research note on Thursday, June 4th. Finally, Benchmark restated a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.05.

Hello Group Stock Performance

MOMO stock opened at $6.01 on Friday. Hello Group has a 12-month low of $5.32 and a 12-month high of $9.11. The stock has a market cap of $646.50 million, a price-to-earnings ratio of 9.39 and a beta of 0.45. The business’s 50-day moving average is $5.86 and its 200 day moving average is $6.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Hello Group by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock valued at $51,284,000 after purchasing an additional 546,048 shares during the last quarter. Athos Capital Ltd acquired a new stake in shares of Hello Group in the 4th quarter worth $47,359,000. LSV Asset Management raised its holdings in shares of Hello Group by 21.3% during the 4th quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock worth $23,357,000 after acquiring an additional 626,152 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Hello Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock worth $13,868,000 after acquiring an additional 37,306 shares during the period. Finally, Norges Bank acquired a new position in shares of Hello Group during the 4th quarter valued at about $9,146,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

About Hello Group

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.