Roth Capital Analysts Give MeetMe, Inc. (MEET) a $9.00 Price Target
MeetMe, Inc. (NASDAQ:MEET) has been assigned a $9.00 price objective by equities research analysts at Roth Capital in a report released on Wednesday. The firm currently has a “buy” rating on the information services provider’s stock. Roth Capital’s price objective would indicate a potential upside of 71.43% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded shares of MeetMe from a “buy” rating to a “sell” rating in a research note on Saturday, May 13th. Finally, Loop Capital reiterated a “buy” rating and set a $9.00 price objective on shares of MeetMe in a research note on Wednesday, May 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $8.70.
MeetMe (MEET) traded down 1.87% during trading on Wednesday, hitting $5.25. 790,521 shares of the company were exchanged. The company has a market capitalization of $364.95 million, a price-to-earnings ratio of 6.82 and a beta of 0.86. The company has a 50-day moving average of $4.93 and a 200-day moving average of $5.14. MeetMe has a 12 month low of $4.50 and a 12 month high of $8.11.
MeetMe (NASDAQ:MEET) last issued its quarterly earnings results on Monday, May 8th. The information services provider reported $0.05 EPS 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 firm had revenue of $20.10 million during the quarter, compared to analyst estimates of $20.05 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. MeetMe’s revenue for the quarter was up 51.1% compared to the same quarter last year. Analysts forecast that MeetMe will post $0.51 EPS for the current year.
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In other news, Director Jason Whitt sold 4,329 shares of the company’s 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 directly owns 20,888 shares in the company, valued at $124,701.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MEET. Dimensional Fund Advisors LP boosted its stake in MeetMe by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,815,168 shares of the information services provider’s stock valued at $28,361,000 after buying an additional 749,823 shares in the last quarter. Vanguard Group Inc. boosted its stake in MeetMe by 24.3% in the first quarter. Vanguard Group Inc. now owns 2,517,889 shares of the information services provider’s stock valued at $14,831,000 after buying an additional 493,038 shares in the last quarter. Geode Capital Management LLC boosted its stake in MeetMe by 60.8% in the first quarter. Geode Capital Management LLC now owns 1,088,207 shares of the information services provider’s stock valued at $6,408,000 after buying an additional 411,375 shares in the last quarter. Pacific Ridge Capital Partners LLC bought a new stake in MeetMe during the first quarter valued at about $6,019,000. Finally, Lyon Street Capital LLC boosted its stake in MeetMe by 24.8% in the first quarter. Lyon Street Capital LLC now owns 974,670 shares of the information services provider’s stock valued at $5,741,000 after buying an additional 193,908 shares in the last quarter. 52.42% of the stock is currently owned by hedge funds and other institutional investors.
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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