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

Hello Group (NASDAQ:MOMO) had its target price reduced by Benchmark from $15.00 to $13.00 in a report published on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the information services provider’s stock.

MOMO has been the topic of a number of other reports. Jefferies Financial Group lifted their price objective on Hello Group from $6.50 to $7.00 and gave the stock a buy rating in a research note on Tuesday. JPMorgan Chase & Co. downgraded Hello Group from an overweight rating to a neutral rating and lowered their target price for the stock from $13.00 to $6.00 in a report on Monday, June 3rd. StockNews.com downgraded Hello Group from a hold rating to a sell rating in a report on Tuesday, August 13th. Morgan Stanley downgraded Hello Group from an equal weight rating to an underweight rating in a report on Wednesday, May 15th. Finally, Citigroup lowered their target price on Hello Group from $6.40 to $5.70 and set a neutral rating for the company in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $7.93.

Hello Group Stock Performance

Shares of MOMO stock opened at $6.38 on Wednesday. The business’s 50-day moving average price is $6.61 and its 200-day moving average price is $6.23. Hello Group has a 12 month low of $4.79 and a 12 month high of $7.89. The firm has a market capitalization of $924.46 million, a price-to-earnings ratio of 5.80, a PEG ratio of 1.98 and a beta of 0.51. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.17.

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

Institutional Investors Weigh In On Hello Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in shares of Hello Group by 26.4% during the first quarter. Acadian Asset Management LLC now owns 7,377,789 shares of the information services provider’s stock valued at $45,781,000 after acquiring an additional 1,538,632 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Hello Group by 14.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,274,996 shares of the information services provider’s stock valued at $29,711,000 after acquiring an additional 555,602 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $22,736,000 after buying an additional 633,746 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of Hello Group during the second quarter valued at approximately $22,553,000. Finally, LSV Asset Management boosted its position in shares of Hello Group by 33.5% during the first quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock valued at $14,144,000 after buying an additional 571,840 shares during the last quarter. 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.