Benchmark Trims Hello Group (NASDAQ:MOMO) Target Price to $13.00

Hello Group (NASDAQ:MOMO) had its price target reduced by analysts at Benchmark from $15.00 to $13.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Benchmark’s price objective indicates a potential upside of 102.49% from the stock’s current price.

Several other equities research analysts have also weighed in on MOMO. StockNews.com lowered Hello Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Morgan Stanley downgraded shares of Hello Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, May 15th. Jefferies Financial Group upped their price target on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup reduced their price objective on shares of Hello Group from $6.40 to $5.70 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. downgraded Hello Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $6.00 in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.93.

Hello Group Stock Performance

NASDAQ MOMO opened at $6.42 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market capitalization of $930.25 million, a PE ratio of 5.84, a price-to-earnings-growth ratio of 1.98 and a beta of 0.51. Hello Group has a 52-week low of $4.79 and a 52-week high of $8.25. The company has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $6.23.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a net margin of 13.38% and a return on equity of 13.61%. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. Hello Group’s revenue was down 14.2% on a year-over-year basis. On average, research analysts predict that Hello Group will post 0.75 EPS for the current year.

Institutional Trading of Hello Group

Several institutional investors and hedge funds have recently bought and sold shares of MOMO. Quadrant Capital Group LLC boosted its stake in Hello Group by 9.0% during the fourth quarter. Quadrant Capital Group LLC now owns 32,840 shares of the information services provider’s stock valued at $228,000 after buying an additional 2,712 shares during the period. Platinum Investment Management Ltd. raised its holdings in shares of Hello Group by 110.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock valued at $56,000 after acquiring an additional 4,700 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Hello Group by 31.8% during the 4th quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock valued at $218,000 after acquiring an additional 7,581 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Hello Group by 19.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock worth $415,000 after purchasing an additional 11,013 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Hello Group in the second quarter worth approximately $68,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

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.