Momo Inc (ADR) (MOMO) is Initiated by JP Morgan to Overweight, Price Target at $26

Momo Inc (ADR) (MOMO) was Initiated by JP Morgan to “Overweight” and the brokerage firm has set the Price Target at $26. JP Morgan advised their investors in a research report released on Aug 31, 2016.

On the company’s financial health, Momo Inc (ADR) reported $0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Nov 19, 2015. Analyst had a consensus of $0.05. The company had revenue of $37.50 million for the quarter, compared to analysts expectations of $44.90 million. The company’s revenue was up 204.9% compared to the same quarter last year.

Momo Inc (ADR) opened for trading at $21.66 and hit $22.83 on the upside on Monday, eventually ending the session at $22.01, with a gain of 1.90% or 0.41 points. The heightened volatility saw the trading volume jump to 74,16,280 shares. Company has a market cap of $4,240 M.

Momo Inc. is a holding company. The Company operates Momo a mobile-based social networking platform. The Company enables users to establish social relationships based on location and interests. Its 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. The Momo mobile application is available on android iOS and Windows platforms. Momo features various location and interest-based features such as Nearby People Groups Message Board Topics and Nearby Events multi-media instant messaging tools as well as mobile games. Its other services include emoticons and mobile marketing services. Its virtual store features emoticons designed in-house and by third-parties.

Momo Inc (ADR)

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