Hello Group Likely to Face Continued Headwinds -- Market Talk

Dow Jones12-10

0914 GMT - Hello Group's performance is likely to remain impacted by macroeconomic headwinds, but other major risks have diminished, Citi analysts Brian Gong and Alicia Yap write in a research note. The operational adjustments to Momo, the social media app run by the Chinese company, have hurt revenue momentum this year but are unlikely to pose a challenge in 2025, the analysts say. Gross profit margin is expected to contract further in 4Q due to rising revenue from overseas apps and year-end bonuses, they add. The analysts maintain a neutral rating on the stock, citing ongoing macroeconomic softness, but have raised the target price of its ADRs to US$7.00 from US$5.90. The ADRs last traded at $7.39. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

December 10, 2024 04:14 ET (09:14 GMT)

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