Hello Group (NASDAQ:MOMO) Price Target Lowered to $20.00 at Benchmark

Hello Group (NASDAQ:MOMOGet Rating) had its price target dropped by research analysts at Benchmark from $22.00 to $20.00 in a report issued on Wednesday, The Fly reports. Benchmark’s price target indicates a potential upside of 217.97% from the company’s current price.

Several other brokerages have also recently commented on MOMO. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. JPMorgan Chase & Co. cut Hello Group from an “overweight” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Monday, March 14th. Zacks Investment Research raised Hello Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 26th. Finally, Citigroup dropped their price target on Hello Group from $8.10 to $7.00 in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Hello Group has a consensus rating of “Hold” and an average target price of $12.20.

MOMO opened at $6.29 on Wednesday. The business’s 50 day moving average is $5.27 and its 200-day moving average is $7.81. The stock has a market cap of $994.89 million, a PE ratio of -2.68 and a beta of 1.24. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.43. Hello Group has a twelve month low of $4.14 and a twelve month high of $16.33.

Hello Group (NASDAQ:MOMOGet Rating) last announced its earnings results on Tuesday, June 7th. The information services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.60 by $0.34. Hello Group had a negative return on equity of 21.68% and a negative net margin of 20.41%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, analysts forecast that Hello Group will post 0.81 EPS for the current year.

A number of large investors have recently modified their holdings of MOMO. Parallel Advisors LLC lifted its position in Hello Group by 93.7% during the 4th quarter. Parallel Advisors LLC now owns 3,094 shares of the information services provider’s stock worth $28,000 after acquiring an additional 1,497 shares during the last quarter. US Bancorp DE lifted its position in Hello Group by 49.6% during the 1st quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock worth $49,000 after acquiring an additional 2,819 shares during the last quarter. Cetera Investment Advisers lifted its position in Hello Group by 5.4% during the 1st quarter. Cetera Investment Advisers now owns 56,450 shares of the information services provider’s stock worth $326,000 after acquiring an additional 2,900 shares during the last quarter. Platinum Investment Management Ltd. lifted its position in Hello Group by 57.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 9,871 shares of the information services provider’s stock worth $57,000 after acquiring an additional 3,585 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in Hello Group by 5.6% during the 1st quarter. Shell Asset Management Co. now owns 70,381 shares of the information services provider’s stock worth $407,000 after acquiring an additional 3,742 shares during the last quarter. Hedge funds and other institutional investors own 60.44% of the company’s stock.

Hello Group Company Profile (Get Rating)

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.

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