Momo Inc. (MOMO) PT Lowered to $18.10 at Jefferies

Jefferies analyst Thomas Chong lowered the price target on Momo Inc. (NASDAQ: MOMO) to $18.10 (from $21.50) while maintaining a Buy rating.

The analyst comments "Momo reported 1Q results with revenue inline with our estimates and non-GAAP earnings beat on better operating performance and higher non-operating items. Midpoint of 2Q revenue guidance is ahead of our expectations. In 2021, we expect to see solid recovery of core Momo backed by VAS and sequential growth of live streaming while Tantan is building for the long term through strengthening user experience and monetization models."

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