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Momo Inc. (MOMO) Catches Eye: Stock Jumps 8.6%

Zacks Equity Research
Updated
Should You Buy Covia Holdings (CVIA) Ahead of Earnings?
Covia Holdings (CVIA) is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat.

Momo Inc. MOMO was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $36.18–$45.99 in the past one-month time frame, witnessed a sharp increase yesterday.

The move came after the company reported better-than-expected second-quarter 2018 results.

The company has seen no estimate revisions over the past few weeks and the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Momo Inc. currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.  

Momo Inc. Price

Momo Inc. Price | Momo Inc. Quote

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A better-ranked stock in the Internet - Software and Services industry is Boingo Wireless, Inc. WIFI, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is MOMO going up? Or down? Predict to see what others think: Up or Down

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