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BEIJING , Sept. 3, 2024 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading player in mainland China's online social networking space, today announced its unaudited financial results for the second quarter of 2024.
Hello Group Inc. Sponsored ADR (MOMO) came out with quarterly earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.36 per share a year ago.
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Hello Group Inc. Sponsored ADR (MOMO) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.33 per share a year ago.
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The average of price targets set by Wall Street analysts indicates a potential upside of 29.4% in Hello Group Inc. Sponsored ADR (MOMO). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
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In addition to the established leaders in the social media industry, numerous emerging platforms are piquing the interest of investors. These platforms are either following existing social media trends or pioneering new ones, such as the development of user-friendly communication formats, the surge in short-form videos, and the continuous growth of dating apps, which are anticipated to dominate the social media landscape shortly.
Hello Group Inc (NASDAQ: MOMO) ended more than 7.0% up on Friday after a UBS analyst turned super bullish on the social media platform. Hello Group stock should be worth $12.50 Felix Liu upgraded the Chinese stock today to “buy” and more than doubled his price objective to $12.
Hello Group Inc. Sponsored ADR (MOMO) delivered earnings and revenue surprises of 38.46% and 0.71%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?