Hello Group (NASDAQ:MOMO) Price Target Cut to $15.00

Hello Group (NASDAQ:MOMOGet Free Report) had its target price decreased by equities research analysts at Benchmark from $16.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Benchmark’s price objective suggests a potential upside of 165.25% from the stock’s previous close.

A number of other equities research analysts have also recently commented on MOMO. Morgan Stanley cut Hello Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 15th. StockNews.com lowered Hello Group from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.35.

Read Our Latest Stock Analysis on Hello Group

Hello Group Trading Up 6.0 %

NASDAQ:MOMO opened at $5.66 on Wednesday. Hello Group has a 52-week low of $4.79 and a 52-week high of $11.12. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $5.88 and a 200-day simple moving average of $6.33. The company has a market capitalization of $819.41 million, a PE ratio of 5.14, a price-to-earnings-growth ratio of 0.96 and a beta of 0.67.

Hello Group (NASDAQ:MOMOGet Free Report) last announced its earnings results on Tuesday, May 28th. The information services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Hello Group had a net margin of 13.38% and a return on equity of 13.51%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts expect that Hello Group will post 1.13 earnings per share for the current fiscal year.

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP raised its holdings in shares of Hello Group by 177.9% in the 4th quarter. Trexquant Investment LP now owns 286,566 shares of the information services provider’s stock worth $1,992,000 after purchasing an additional 183,430 shares during the period. Qube Research & Technologies Ltd grew its holdings in shares of Hello Group by 294.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,238,483 shares of the information services provider’s stock worth $8,645,000 after purchasing an additional 924,447 shares during the period. Jupiter Asset Management Ltd. increased its position in Hello Group by 8.7% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,085,508 shares of the information services provider’s stock worth $7,577,000 after purchasing an additional 87,000 shares in the last quarter. Invesco Ltd. raised its holdings in Hello Group by 1.6% in the third quarter. Invesco Ltd. now owns 10,032,288 shares of the information services provider’s stock valued at $70,025,000 after buying an additional 159,342 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in Hello Group in the third quarter valued at approximately $153,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

(Get Free Report)

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.

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