Hello Group (NASDAQ:MOMO) Price Target Raised to $7.00

Hello Group (NASDAQ:MOMO) had its price target lifted by Citigroup from $5.90 to $7.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

Several other research analysts have also issued reports on MOMO. Benchmark reduced their price target on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Bank of America cut Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group upped their price target on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Trading Up 2.4 %

Shares of NASDAQ MOMO opened at $7.57 on Tuesday. Hello Group has a fifty-two week low of $4.79 and a fifty-two week high of $8.19. The firm has a market capitalization of $1.10 billion, a P/E ratio of 7.57, a P/E/G ratio of 2.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55. The company’s 50 day simple moving average is $6.97 and its 200 day simple moving average is $6.59.

Hedge Funds Weigh In On Hello Group

Several institutional investors have recently modified their holdings of MOMO. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Hello Group during the 2nd quarter worth approximately $22,553,000. Dimensional Fund Advisors LP increased its position in shares of Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after acquiring an additional 633,746 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after acquiring an additional 3,196 shares during the period. American Century Companies Inc. boosted its stake in Hello Group by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock worth $4,417,000 after purchasing an additional 133,113 shares during the period. Finally, Caxton Associates LP bought a new position in Hello Group during the 2nd quarter worth about $2,628,000. Institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

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.