MeetMe Inc. (MEET) Receives Consensus Recommendation of “Buy” from Analysts
MeetMe Inc. (NASDAQ:MEET) has received an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.08.
MEET has been the topic of several research reports. Loop Capital initiated coverage on shares of MeetMe in a report on Thursday, August 25th. They issued a “buy” rating on the stock. Roth Capital set a $8.50 price target on shares of MeetMe and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Zacks Investment Research downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th.
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Shares of MeetMe (NASDAQ:MEET) traded down 0.41% on Wednesday, reaching $4.83. 538,297 shares of the company were exchanged. MeetMe has a 12-month low of $2.55 and a 12-month high of $8.11. The stock has a market capitalization of $284.31 million, a PE ratio of 6.56 and a beta of 1.32. The firm has a 50 day moving average price of $5.11 and a 200-day moving average price of $5.37.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The firm earned $17.20 million during the quarter, compared to analyst estimates of $17.24 million. MeetMe had a net margin of 63.55% and a return on equity of 15.13%. MeetMe’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $0.08 EPS. On average, analysts predict that MeetMe will post $0.42 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Prudential Financial Inc. purchased a new stake in shares of MeetMe during the third quarter worth approximately $103,000. BlackRock Inc. purchased a new stake in shares of MeetMe during the second quarter worth approximately $109,000. Creative Planning boosted its stake in shares of MeetMe by 140.0% in the third quarter. Creative Planning now owns 17,999 shares of the company’s stock worth $112,000 after buying an additional 10,499 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of MeetMe by 125.9% in the second quarter. Tower Research Capital LLC TRC now owns 22,183 shares of the company’s stock worth $118,000 after buying an additional 12,361 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of MeetMe by 11,780.5% in the second quarter. American International Group Inc. now owns 23,761 shares of the company’s stock worth $127,000 after buying an additional 23,561 shares during the last quarter. 56.02% of the stock is currently owned by institutional investors and hedge funds.
MeetMe Company Profile
MeetMe, Inc is a social media technology company that owns and operates the MeetMe mobile applications and meetme.com. The Company is a location-based social network for meeting new people both on the Web and on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users.
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