Hello Group's Revenue Likely to See Headwinds for a While -- Market Talk

Dow Jones03-15

0853 GMT - Hello Group, a Chinese online social networking company, is likely to see its revenue being hurt by headwinds for a while, given macroeconomic softness and the change in industry focus, according to Citi analysts led by Brian Gong and Alicia Yap, following the company's 4Q 2023 results. "We think the main disappointment came from lower DPS (dividend per share) to $0.54/ADS from $0.72/ADS last year despite the share repurchase program of $200 million till June 2026," the analysts say. They keep their neutral/high-risk rating on Hello Group, but cut the target price to $6.40 from $8.00. ADSs closed down 22.3% at $5.96 on Thursday. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

March 15, 2024 04:53 ET (08:53 GMT)

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They keep their neutral/high-risk rating on Hello Group, but cut the target price to $6.40 from $8.00. ADSs closed down 22.3% at $5.96 on Thursday. 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