Citi analyst Brian Gong lowered the firm’s price target on Hello Group to $6.40 from $8 and keeps a Neutral rating on the shares. The company reported “decent” Q4 results with revenue 3% and non-GAAP earnings 5% above consensus, the analyst tells investors in a research note. However, the firm says the company guided core Momo revenue to decrease 10% year-over-year in Q1 due to macro softness, currency impact and operational adjustments that reduces event-driven sales for regulatory environment despite strong growth over overseas apps.
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