MeetMe, Inc. (MEET) Receives Consensus Rating of “Hold” from Analysts
Shares of MeetMe, Inc. (NASDAQ:MEET) have earned an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.06.
Several analysts have recently issued reports on MEET shares. Canaccord Genuity cut MeetMe from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Thursday. Roth Capital set a $9.00 price target on MeetMe and gave the company a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered MeetMe from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub lowered MeetMe from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, JMP Securities decreased their price target on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a report on Monday, August 7th.
Large investors have recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. raised its holdings in MeetMe by 33.3% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock valued at $101,000 after buying an additional 5,000 shares during the period. Cubist Systematic Strategies LLC raised its holdings in MeetMe by 31.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock valued at $101,000 after buying an additional 4,827 shares during the period. Parametric Portfolio Associates LLC grew its position in MeetMe by 56.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock valued at $131,000 after acquiring an additional 9,383 shares during the last quarter. Voya Investment Management LLC grew its position in MeetMe by 50.0% in the 2nd quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock valued at $144,000 after acquiring an additional 9,528 shares during the last quarter. Finally, American International Group Inc. grew its position in MeetMe by 7.1% in the 1st quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 1,683 shares during the last quarter. Institutional investors own 56.93% of the company’s stock.
Shares of MeetMe (MEET) opened at $2.29 on Monday. The stock has a market capitalization of $164.44, a P/E ratio of 6.36, a PEG ratio of 0.47 and a beta of 1.05. MeetMe has a twelve month low of $2.26 and a twelve month high of $6.45.
MeetMe (NASDAQ:MEET) last issued its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The business had revenue of $32.25 million for the quarter, compared to analysts’ expectations of $32.33 million. MeetMe had a return on equity of 10.85% and a net margin of 11.90%. The company’s revenue for the quarter was up 87.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. analysts predict that MeetMe will post 0.25 EPS for the current year.
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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