Momo Inc (ADR) (MOMO) was Upgraded by Morgan Stanley to ” Overweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Oct 19, 2016.
Many Wall Street Analysts have commented on Momo Inc (ADR). Credit Suisse Initiated Momo Inc (ADR) on Sep 14, 2016 to “Outperform”, Price Target of the shares are set at $29.Momo Inc (ADR) was Upgraded by Morgan Stanley to ” Equal-Weight” on Sep 6, 2016. JP Morgan Initiated Momo Inc (ADR) on Aug 31, 2016 to “Overweight”, Price Target of the shares are set at $26.
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) closed down -0.61 points or -2.53% at $23.5 with 31,80,611 shares getting traded on Friday. Post opening the session at $24.78, the shares hit an intraday low of $23.46 and an intraday high of $25.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.