Jefferies Believes Momo Inc (NASDAQ: MOMO) Still Has Room to Grow

By Ryan Adsit

In a report released yesterday, Karen Chan from Jefferies reiterated a Buy rating on Momo Inc (NASDAQ: MOMO), with a price target of $52. The company’s shares closed yesterday at $41.07, close to its 52-week high of $45.95.

According to TipRanks.com, Chan is a 5-star analyst with an average return of 24.1% and a 82.2% success rate. Chan covers the Technology sector, focusing on stocks such as Alibaba Group, Facebook Inc, and Alphabet Inc.

Momo Inc has an analyst consensus of Moderate Buy, with a price target consensus of $47.50.

Based on Momo Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $238 million and quarterly net profit of $81 million. In comparison, last year the company earned revenue of $49.58 million and had a net profit of $6.87 million.

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Momo, Inc. operates as a mobile-based social networking platform. The platform includes Momo mobile application and related features, functionalities, tools and services that is provided to users, customers and platform partners. It enables users to establish and expand social relationships based on location and interests. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li on November 23, 2011 and is headquartered in Beijing, China.