Brokerages Set Hello Group Inc. (NASDAQ:MOMO) PT at $8.90

Shares of Hello Group Inc. (NASDAQ:MOMO) have been assigned a consensus rating of “Hold” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.90.

Several research firms recently issued reports on MOMO. Benchmark reduced their price target on shares of Hello Group from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. JPMorgan Chase & Co. lowered shares of Hello Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $6.00 in a research report on Monday, June 3rd. Citigroup lowered their price objective on shares of Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a research report on Wednesday, May 29th. Finally, Morgan Stanley downgraded shares of Hello Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, May 15th.

Hello Group Trading Up 0.2 %

NASDAQ:MOMO opened at $6.52 on Thursday. Hello Group has a 12 month low of $4.79 and a 12 month high of $11.12. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $944.02 million, a price-to-earnings ratio of 5.92, a PEG ratio of 2.04 and a beta of 0.51. The firm has a fifty day simple moving average of $6.00 and a two-hundred day simple moving average of $6.11.

Hello Group (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 28th. The information services provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.48 billion. Hello Group had a return on equity of 13.61% and a net margin of 13.38%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. Analysts expect that Hello Group will post 0.75 EPS for the current fiscal year.

Institutional Trading of Hello Group

Several institutional investors and hedge funds have recently modified their holdings of MOMO. Headlands Technologies LLC purchased a new stake in shares of Hello Group during the 4th quarter valued at $28,000. Platinum Investment Management Ltd. increased its position in shares of Hello Group by 110.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 4,700 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Hello Group by 10,987.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,311 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 10,218 shares during the last quarter. D Orazio & Associates Inc. bought a new stake in Hello Group in the 4th quarter worth approximately $79,000. Finally, Kathmere Capital Management LLC bought a new stake in Hello Group in the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

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.