MeetMe, Inc. (NASDAQ:MEET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Other research analysts have also issued research reports about the stock. Roth Capital set a $8.00 target price on shares of MeetMe and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Loop Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of MeetMe in a research note on Wednesday, May 10th. ValuEngine lowered shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. BidaskClub lowered shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, JMP Securities lowered their price objective on shares of MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating for the company in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. MeetMe currently has a consensus rating of “Hold” and a consensus price target of $7.90.

Shares of MeetMe (NASDAQ:MEET) opened at 3.57 on Wednesday. The firm’s 50-day moving average is $4.51 and its 200 day moving average is $5.00. MeetMe has a 52-week low of $3.41 and a 52-week high of $6.47. The stock has a market capitalization of $256.32 million, a price-to-earnings ratio of 14.94 and a beta of 0.86.

MeetMe (NASDAQ:MEET) last announced its earnings results on Thursday, August 3rd. The information services provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $31.33 million during the quarter, compared to analyst estimates of $30.70 million. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. MeetMe’s revenue was up 91.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Equities analysts expect that MeetMe will post $0.43 EPS for the current year.

TRADEMARK VIOLATION WARNING: “MeetMe, Inc. (MEET) Upgraded to “Hold” by Zacks Investment Research” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/08/30/meetme-inc-meet-upgraded-to-hold-by-zacks-investment-research.html.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC raised its position in MeetMe by 10.3% in the fourth quarter. Teachers Advisors LLC now owns 71,445 shares of the information services provider’s stock valued at $352,000 after buying an additional 6,676 shares during the last quarter. LSV Asset Management acquired a new position in MeetMe during the first quarter valued at approximately $553,000. Algert Global LLC acquired a new position in MeetMe during the first quarter valued at approximately $134,000. American Century Companies Inc. raised its position in MeetMe by 5.4% in the first quarter. American Century Companies Inc. now owns 385,582 shares of the information services provider’s stock valued at $2,271,000 after buying an additional 19,709 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in MeetMe by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 325,789 shares of the information services provider’s stock valued at $1,919,000 after buying an additional 25,037 shares during the last quarter. 56.31% of the stock is owned by institutional investors and hedge funds.

About MeetMe

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.

Receive News & Stock Ratings for MeetMe Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MeetMe Inc. and related stocks with our FREE daily email newsletter.