MOMO: Expect In Line 3Q18 As Political and Economic Environments Impact Topline Growth; Maintain Buy Rating But Lower Price Target
- Date: Nov 21, 2018
- Tags:MOMOTantan
- Industry:Online Dating Service
- Partial Report:Name: MOMO 3Q18 Preview 11212018.pdf - Size: 0.57M - Free Download
MOMO will report 3Q18 results in late November. Based on our data and model, we believe MOMO’s 3Q18 revenue is likely to reach about US$533.5M (exchange rate at RMB6.8055 = USD 1), in line with consensus at US$534.4M, and within its guidance range of US$525M – US$541M. The company also needs to invest in Tantan, and as such, we believe the margin is likely to be lower than 2Q18 and 3Q17.