Why Momo Inc (ADR) Stock Is Soaring Today

Advertisement

MomoMomo Inc (ADR) (NASDAQ:MOMO) stock is skyrocketing as analysts issued their ratings on the company.

The social networking platform operator was given an “Outperform” rating by analysts at Credit Suisse Group AG (ADR) (NYSE:CS) with a price target of $29. Among the three firms covering Momo, the company has an average price target of $28.

The low estimate on the stock is slated to be $26, with a high estimate of $29. Shares have surged an incredible 81.82% over the last year.

MOMO stock is up 11.4% on today’s trading alone. The company last released its quarterly earnings report on June 16, earning 12 cents per share, ahead of the consensus estimate of 8 cents a share.

Wall Street predicts that the company will earn an average of 17 cents per share on the current quarter. Median revenue expectations are at exactly $130.5 million from every analyst covering the stock.

Last week, a report suggested that Momo is a company to look out for in the market for the coming weeks. Despite being ignored by many investors, the stock has potential to experience a strong gain.

Zacks has a “Buy” rating on the company, which is expected to perform solidly going forward. The earnings growth experienced by the company during the current year should eventually help boost its price.

More From InvestorPlace


Article printed from InvestorPlace Media, https://investorplace.com/2016/10/momo-inc-adr-momo-stock/.

©2024 InvestorPlace Media, LLC