Hello Group down as brokerages cut PTs after Q4 results

Hello

25/03/2022 10:55

** Chinese social media platform's  MOMO.O  shares down 3.1%
at $6.99 premarket
    ** At least 2 brokerages cut PTs on stock after co on
Thursday forecast lower y-o-y revenue for Q1 2022 and reported
Q4 profit miss  urn:newsml:reuters.com:*:nL3N2VR2TY
    ** Benchmark lowers PT to $22, says it expects growth
pressure on MOMO's live-streaming and Tantan app in the near
quarters
    ** "The recovery trend will likely be comprised in the near
term as top spenders scale back amidst macro headwinds, says
Benchmark adding that regulatory environment could also dampen
the morale 
    ** Jefferies, lowers PT to $13.60 from $14, expects total
revenue to decline by about 8% y-o-y to 13.4 bln yuan on a full
year basis
    ** Avg. rating of 18 analysts is "buy"; median PT is $13.60
- Refinitiv data
    ** As of last close, stock had fallen ~20% this year

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))