Analysts Set MeetMe, Inc. (MEET) Target Price at $9.25
Shares of MeetMe, Inc. (NASDAQ:MEET) have been given a consensus rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.50.
MEET has been the topic of a number of research reports. Loop Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of MeetMe in a research note on Wednesday, May 10th. BidaskClub lowered shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Roth Capital set a $9.00 price objective on shares of MeetMe and gave the stock a “buy” rating in a research note on Wednesday, July 19th. JMP Securities cut their price objective on shares of MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a research note on Monday. Finally, Zacks Investment Research upgraded shares of MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.
A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in MeetMe during the fourth quarter valued at approximately $392,000. Dimensional Fund Advisors LP raised its stake in 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 valued at $20,043,000 after buying an additional 1,167,798 shares in the last quarter. Teachers Advisors LLC raised its stake 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 in the last quarter. Foundry Partners LLC purchased a new stake in MeetMe during the first quarter valued at approximately $4,398,000. Finally, Legato Capital Management LLC purchased a new stake in MeetMe during the first quarter valued at approximately $7,000,000. Institutional investors own 52.72% of the company’s stock.
Shares of MeetMe (NASDAQ:MEET) traded down 4.81% on Friday, hitting $3.96. 3,453,935 shares of the stock traded hands. The stock has a 50 day moving average of $5.04 and a 200 day moving average of $5.14. MeetMe has a one year low of $3.92 and a one year high of $8.11. The company has a market cap of $275.28 million, a PE ratio of 5.40 and a beta of 0.86.
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, topping the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $31.33 million for the quarter, compared to analyst estimates of $30.70 million. MeetMe had a net margin of 15.95% and a return on equity of 12.21%. The business’s quarterly revenue was up 91.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Equities analysts anticipate that MeetMe will post $0.44 earnings per share 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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