Hello Group (NASDAQ:MOMO) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Hello Group from a "buy" to a "hold" rating, adding to a mixed analyst view on the stock.
• Other recent calls were split: UBS set a $10 price target, Weiss Ratings cut the stock to "sell," and Benchmark reiterated a "buy." The current consensus rating is Hold with a $9.05 target price.
• Shares of NASDAQ:MOMO were trading around $5.88, near their 12-month low of $5.32, with a market cap of about $632.5 million and a P/E ratio of 9.19.

Hello Group (NASDAQ:MOMO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Several other research firms have also commented on MOMO. UBS Group set a $10.00 price target on Hello Group in a research report on Thursday, June 4th. Weiss Ratings downgraded Hello Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Finally, Benchmark reissued a "buy" rating on shares of Hello Group in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.05.

Hello Group Trading Down 0.2%

Shares of NASDAQ:MOMO opened at $5.88 on Friday. Hello Group has a 12 month low of $5.32 and a 12 month high of $8.59. The firm's 50-day moving average is $5.84 and its 200 day moving average is $6.18. The company has a market capitalization of $632.48 million, a price-to-earnings ratio of 9.19 and a beta of 0.45.

Institutional Investors Weigh In On Hello Group

Several large investors have recently added to or reduced their stakes in MOMO. Goldman Sachs Group Inc. boosted its position in Hello Group by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider's stock valued at $51,284,000 after buying an additional 546,048 shares during the period. Geode Capital Management LLC increased its position in shares of Hello Group by 4.1% during the second quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider's stock worth $2,362,000 after acquiring an additional 10,944 shares during the period. JPMorgan Chase & Co. increased its position in shares of Hello Group by 111.0% during the second quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider's stock worth $2,666,000 after acquiring an additional 166,227 shares during the period. Legal & General Group Plc increased its position in shares of Hello Group by 31.7% during the second quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider's stock worth $336,000 after acquiring an additional 9,597 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Hello Group by 231.1% in the second quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider's stock valued at $329,000 after acquiring an additional 27,125 shares in the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

About Hello Group

Hello Group Inc NASDAQ: MOMO is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group's portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.

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