$30.60 Million in Sales Expected for MeetMe, Inc. (MEET) This Quarter
Equities analysts predict that MeetMe, Inc. (NASDAQ:MEET) will report $30.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for MeetMe’s earnings. The highest sales estimate is $30.80 million and the lowest is $30.40 million. MeetMe reported sales of $16.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 86.7%. The business is expected to announce its next quarterly earnings results on Monday, August 7th.
On average, analysts expect that MeetMe will report full year sales of $30.60 million for the current year, with estimates ranging from $128.30 million to $130.70 million. For the next fiscal year, analysts forecast that the business will report sales of $146.30 million per share, with estimates ranging from $141.40 million to $151.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow MeetMe.
MeetMe (NASDAQ:MEET) last announced its earnings results on Monday, May 8th. The information services provider reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. MeetMe had a net margin of 53.53% and a return on equity of 13.16%. The business had revenue of $20.10 million during the quarter, compared to the consensus estimate of $20.05 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 51.1% compared to the same quarter last year.
A number of analysts have weighed in on the stock. ValuEngine downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Loop Capital reissued a “buy” rating and issued a $9.00 price target on shares of MeetMe in a report on Monday, March 6th. Roth Capital set a $9.00 price target on shares of MeetMe and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, JMP Securities reissued an “outperform” rating and issued a $9.00 price target on shares of MeetMe in a report on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.70.
Shares of MeetMe (MEET) traded up 1.134% during midday trading on Wednesday, hitting $4.905. 341,099 shares of the stock traded hands. The firm has a 50-day moving average price of $4.95 and a 200 day moving average price of $5.16. The stock has a market cap of $340.97 million, a price-to-earnings ratio of 6.683 and a beta of 0.70. MeetMe has a one year low of $4.40 and a one year high of $8.11.
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In other news, Director Jason Whitt sold 4,329 shares of the stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $5.97, for a total value of $25,844.13. Following the completion of the transaction, the director now owns 20,888 shares in the company, valued at approximately $124,701.36. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in MEET. Rice Hall James & Associates LLC boosted its position in shares of MeetMe by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 51,821 shares of the information services provider’s stock worth $305,000 after buying an additional 1,462 shares in the last quarter. American International Group Inc. boosted its position in shares of MeetMe by 7.1% in the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock worth $150,000 after buying an additional 1,683 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of MeetMe by 2.1% in the first quarter. Gotham Asset Management LLC now owns 112,440 shares of the information services provider’s stock worth $662,000 after buying an additional 2,318 shares in the last quarter. Marshall Wace LLP boosted its position in shares of MeetMe by 1.8% in the fourth quarter. Marshall Wace LLP now owns 282,922 shares of the information services provider’s stock worth $1,395,000 after buying an additional 4,937 shares in the last quarter. Finally, Hancock Holding Co. boosted its position in shares of MeetMe by 19.6% in the first quarter. Hancock Holding Co. now owns 33,131 shares of the information services provider’s stock worth $195,000 after buying an additional 5,420 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.
MeetMe Company Profile
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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