Price Action to Note: Could Momo Inc (ADR) Go Down After Achieving 52-Week High?

Price Action to Note: Could Momo Inc (ADR) Go Down After Achieving 52 Week High?

The stock of Momo Inc (ADR) (NASDAQ:MOMO) hit a new 52-week high and has $41.48 target or 67.00% above today’s $24.84 share price. The 9 months bullish chart indicates low risk for the $5.35 billion company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $41.48 price target is reached, the company will be worth $3.58B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.93M shares traded hands or 25.16% up from the average. Momo Inc (ADR) (NASDAQ:MOMO) has risen 97.92% since April 5, 2016 and is uptrending. It has outperformed by 95.97% the S&P500.

Analysts await Momo Inc (ADR) (NASDAQ:MOMO) to report earnings on November, 17. MOMO’s profit will be $17.23 million for 77.34 P/E if the $0.08 EPS becomes a reality. After $0.08 actual EPS reported by Momo Inc (ADR) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Momo Inc (ADR) (NASDAQ:MOMO) Ratings Coverage

Out of 4 analysts covering Momo Inc (NASDAQ:MOMO), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Momo Inc has been the topic of 4 analyst reports since August 31, 2016 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, November 4 by TH Capital. The stock of Momo Inc (ADR) (NASDAQ:MOMO) has “Overweight” rating given on Wednesday, October 19 by Morgan Stanley. As per Wednesday, August 31, the company rating was initiated by JP Morgan. The stock has “Buy” rating given by HSBC on Monday, October 31.

According to Zacks Investment Research, “Momo Inc. provides mobile-based social networking platform primarily in the Peoples Republic of China. Its platform includes mobile applications and related features, functionalities, tools and services. The Company offers two types of mobile game services non-exclusive mobile game services and exclusive mobile game services. It also provides membership subscription and other services which include paid emoticons and mobile marketing services. Momo Inc. is headquartered in Beijing, the Peoples Republic of China.”

More important recent Momo Inc (ADR) (NASDAQ:MOMO) news were published by: Marketwatch.com which released: “Momo Inc. ADR NASDAQ: MOMO” on November 20, 2013, also Investorplace.com published article titled: “Why Momo Inc (ADR) Stock Is Soaring Today”, Quotes.Wsj.com published: “DOW JONES, A NEWS CORP COMPANY” on June 09, 2013. More interesting news about Momo Inc (ADR) (NASDAQ:MOMO) was released by: Investorplace.com and their article: “MOMO Stock: Why Momo Inc (ADR) Is Looking REALLY Attractive” with publication date: May 13, 2016.

MOMO Company Profile

Momo Inc., incorporated on July 1, 2014, is a holding company. The Firm operates Momo, a mobile social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, clients and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform. It also offers live music and entertainment broadcasts on its Momo platform. The Momo mobile application, which is available on android, iPhone operating system (iOS) and Windows platforms, enables users to establish social relationships based on locations and interests. Momo offers a personal way for users to discover people nearby, and the Company facilitates the connecting, communicating, interacting, and content sharing with others. Momo features various location and interest features, such as Nearby functions and other functions.

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