Wall Street brokerages expect MeetMe, Inc. (NASDAQ:MEET) to report sales of $30.60 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for MeetMe’s earnings, with the highest sales estimate coming in at $30.80 million and the lowest estimate coming in at $30.40 million. MeetMe reported sales of $16.39 million during the same quarter last year, which indicates a positive year over year growth rate of 86.7%. The firm is scheduled to report its next quarterly earnings report on Monday, August 7th.

According to Zacks, analysts expect that MeetMe will report full-year sales of $30.60 million for the current fiscal year, with estimates ranging from $128.30 million to $130.70 million. For the next financial year, analysts forecast that the business will post sales of $146.30 million per share, with estimates ranging from $141.40 million to $151.20 million. Zacks Investment Research’s 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 quarterly earnings data on Monday, May 8th. The information services provider reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $20.05 million. During the same period in the previous year, the business earned $0.04 earnings per share. The company’s revenue was up 51.1% on a year-over-year basis.

Several analysts have recently commented on the company. ValuEngine cut MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research cut MeetMe from a “buy” rating to a “sell” rating in a report on Saturday, May 13th. Loop Capital reiterated a “buy” rating and issued a $9.00 price target on shares of MeetMe in a report on Wednesday, May 10th. Finally, Roth Capital set a $9.00 price target on MeetMe and gave the company a “buy” rating in a report on Wednesday, May 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. MeetMe currently has an average rating of “Buy” and an average price target of $8.70.

Shares of MeetMe (MEET) opened at 5.25 on Friday. The company’s 50 day moving average is $4.93 and its 200-day moving average is $5.14. The company has a market capitalization of $364.95 million, a PE ratio of 7.15 and a beta of 0.86. MeetMe has a 52 week low of $4.50 and a 52 week high of $8.11.

In other MeetMe news, Director Jason Whitt sold 4,329 shares of the stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $5.97, for a total value of $25,844.13. Following the transaction, the director now owns 20,888 shares of the company’s stock, valued at $124,701.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MEET. Eagle Global Advisors LLC raised its position in MeetMe by 16.2% in 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. Bank of New York Mellon Corp raised its position in MeetMe by 8.3% in 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. American Century Companies Inc. raised its position in MeetMe by 5.4% in 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. Algert Global LLC bought a new position in MeetMe during the first quarter valued at $134,000. Finally, LSV Asset Management bought a new position in MeetMe during the first quarter valued at $553,000. 52.42% of the stock is currently owned by hedge funds and other institutional investors.

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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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