MeetMe, Inc. (MEET) Expected to Announce Quarterly Sales of $32.80 Million
Equities analysts predict that MeetMe, Inc. (NASDAQ:MEET) will announce $32.80 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for MeetMe’s earnings, with the lowest sales estimate coming in at $32.50 million and the highest estimate coming in at $33.10 million. MeetMe reported sales of $17.19 million in the same quarter last year, which indicates a positive year over year growth rate of 90.8%. The firm is expected to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that MeetMe will report full year sales of $32.80 million for the current financial year, with estimates ranging from $121.70 million to $123.70 million. For the next year, analysts forecast that the firm will report sales of $138.75 million per share, with estimates ranging from $131.90 million to $145.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for MeetMe.
MeetMe (NASDAQ:MEET) last issued 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. MeetMe had a return on equity of 11.47% and a net margin of 15.95%. The business had revenue of $31.33 million during the quarter, compared to analysts’ expectations of $30.70 million. During the same period in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was up 91.2% compared to the same quarter last year.
A number of research analysts recently issued reports on MEET shares. Loop Capital reiterated a “buy” rating and issued a $9.00 target price on shares of MeetMe in a report on Wednesday, May 10th. Zacks Investment Research lowered MeetMe from a “buy” rating to a “sell” rating in a report on Saturday, May 13th. Roth Capital set a $9.00 target price on MeetMe and gave the company a “buy” rating in a report on Wednesday, May 31st. ValuEngine lowered MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Finally, BidaskClub lowered MeetMe from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. MeetMe currently has an average rating of “Hold” and an average price target of $7.90.
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Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of MeetMe during the fourth quarter worth about $392,000. Dimensional Fund Advisors LP increased its stake in shares of MeetMe by 40.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,065,345 shares of the information services provider’s stock worth $20,043,000 after buying an additional 1,167,798 shares during the period. Teachers Advisors LLC increased its stake in shares of MeetMe by 10.3% in the fourth quarter. Teachers Advisors LLC now owns 71,445 shares of the information services provider’s stock worth $352,000 after buying an additional 6,676 shares during the period. Legato Capital Management LLC acquired a new stake in shares of MeetMe during the first quarter worth about $7,000,000. Finally, Perkins Capital Management Inc. acquired a new stake in shares of MeetMe during the first quarter worth about $177,000. 52.72% of the stock is owned by institutional investors.
Shares of MeetMe (NASDAQ MEET) traded up 2.59% during midday trading on Friday, hitting $3.57. The company’s stock had a trading volume of 546,847 shares. The firm has a market cap of $256.32 million, a price-to-earnings ratio of 14.94 and a beta of 0.86. MeetMe has a 12-month low of $3.45 and a 12-month high of $8.02. The firm has a 50-day moving average of $4.95 and a 200 day moving average of $5.10.
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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