$32.80 Million in Sales Expected for MeetMe, Inc. (MEET) This Quarter
Analysts predict that MeetMe, Inc. (NASDAQ:MEET) will report $32.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for MeetMe’s earnings, with the highest sales estimate coming in at $33.10 million and the lowest estimate coming in at $32.50 million. MeetMe posted sales of $17.19 million during the same quarter last year, which would indicate a positive year over year growth rate of 90.8%. The business is expected to issue its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that MeetMe will report full year sales of $32.80 million for the current year, with estimates ranging from $121.70 million to $123.70 million. For the next fiscal year, analysts anticipate that the business will post sales of $138.75 million per share, with estimates ranging from $131.90 million to $145.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow MeetMe.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. The business had revenue of $31.33 million during the quarter, compared to analysts’ expectations of $30.70 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s quarterly revenue was up 91.2% compared to the same quarter last year.
A number of equities research analysts have commented on the stock. Roth Capital set a $9.00 target price on shares of MeetMe and gave the stock a “buy” rating in a research note on Saturday, June 17th. JMP Securities decreased their target price 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, August 7th. Zacks Investment Research cut shares of MeetMe from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. BidaskClub cut shares of MeetMe from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 15th. Finally, ValuEngine cut shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. MeetMe presently has a consensus rating of “Hold” and a consensus price target of $7.90.
Several institutional investors have recently added to or reduced their stakes in MEET. Teachers Advisors LLC raised its position in shares of MeetMe by 10.3% during 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 bought a new stake in shares of MeetMe during the first quarter valued at approximately $553,000. American Century Companies Inc. raised its position in shares of MeetMe by 5.4% during 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. Bank of New York Mellon Corp raised its position in shares of MeetMe by 8.3% during 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. Finally, Eagle Global Advisors LLC raised its position in shares of MeetMe by 16.2% during the first quarter. Eagle Global Advisors LLC now owns 84,693 shares of the information services provider’s stock valued at $499,000 after buying an additional 11,783 shares during the last quarter. Hedge funds and other institutional investors own 56.31% of the company’s stock.
MeetMe (MEET) traded up 0.51% during trading on Thursday, reaching $3.96. 293,221 shares of the company’s stock were exchanged. The company has a market cap of $284.32 million, a P/E ratio of 16.57 and a beta of 0.80. The stock’s 50-day moving average is $4.03 and its 200-day moving average is $4.92. MeetMe has a 12-month low of $3.41 and a 12-month high of $6.45.
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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