MeetMe, Inc. (MEET) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of MeetMe, Inc. (NASDAQ:MEET) from a sell rating to a hold rating in a research note released on Wednesday, July 12th.
According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “
MEET has been the topic of a number of other reports. Roth Capital set a $9.00 price target on MeetMe and gave the stock a buy rating in a research report on Tuesday, March 21st. Canaccord Genuity assumed coverage on MeetMe in a research report on Monday, March 20th. They set a buy rating and a $10.00 price target on the stock. Loop Capital restated a buy rating and set a $9.00 price target on shares of MeetMe in a research report on Wednesday, May 10th. Finally, ValuEngine lowered MeetMe from a buy rating to a hold rating in a research report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $8.10.
Shares of MeetMe (MEET) opened at 4.16 on Wednesday. The company has a market cap of $289.18 million, a P/E ratio of 5.67 and a beta of 0.86. The company has a 50 day moving average price of $5.03 and a 200 day moving average price of $5.15. MeetMe has a one year low of $4.15 and a one year high of $8.11.
MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. MeetMe had a return on equity of 12.21% and a net margin of 15.95%. The company had revenue of $31.33 million for the quarter, compared to analyst estimates of $30.70 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was up 91.2% compared to the same quarter last year. Equities research analysts expect that MeetMe will post $0.44 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC purchased a new position in MeetMe during the first quarter valued at about $134,000. American International Group Inc. increased its position in MeetMe by 7.1% in the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after buying an additional 1,683 shares in the last quarter. Perkins Capital Management Inc. purchased a new position in MeetMe during the first quarter valued at about $177,000. JPMorgan Chase & Co. purchased a new position in MeetMe during the first quarter valued at about $177,000. Finally, Hancock Holding Co. increased its position in MeetMe by 19.6% in the first quarter. Hancock Holding Co. now owns 33,131 shares of the information services provider’s stock valued at $195,000 after buying an additional 5,420 shares in the last quarter. 52.72% of the stock is currently owned by hedge funds and other institutional investors.
MeetMe Company Profile
The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.
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