Brokerages Anticipate MeetMe, Inc. (NASDAQ:MEET) Will Announce Quarterly Sales of $32.80 Million
Equities analysts forecast that MeetMe, Inc. (NASDAQ:MEET) will report sales of $32.80 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for MeetMe’s earnings. The lowest sales estimate is $32.50 million and the highest is $33.10 million. MeetMe reported sales of $17.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 90.8%. The firm is expected to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that MeetMe will report full-year sales of $32.80 million for the current fiscal year, with estimates ranging from $121.70 million to $123.70 million. For the next financial year, analysts anticipate that the company will post sales of $138.75 million per share, with estimates ranging from $131.90 million to $145.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for MeetMe.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. The firm had revenue of $31.33 million during the quarter, compared to analyst estimates of $30.70 million. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue was up 91.2% on a year-over-year basis.
A number of brokerages recently issued reports on MEET. Roth Capital set a $9.00 price objective on shares of MeetMe and gave the company a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of MeetMe from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub cut shares of MeetMe from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Loop Capital restated a “buy” rating and set a $9.00 price objective on shares of MeetMe in a report on Wednesday, May 10th. Finally, ValuEngine cut shares of MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.90.
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MeetMe (NASDAQ MEET) traded up 2.59% during trading on Friday, reaching $3.57. 546,847 shares of the company were exchanged. MeetMe has a 52-week low of $3.45 and a 52-week high of $8.02. The firm has a market cap of $256.32 million, a price-to-earnings ratio of 14.94 and a beta of 0.86. The firm has a 50-day moving average of $4.95 and a 200-day moving average of $5.10.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. boosted its position in MeetMe by 33.3% in the second quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock valued at $101,000 after buying an additional 5,000 shares during the period. Algert Global LLC bought a new position in MeetMe during the first quarter valued at $134,000. American International Group Inc. boosted its position in MeetMe by 7.1% in the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after buying an additional 1,683 shares during the period. Perkins Capital Management Inc. bought a new position in MeetMe during the first quarter valued at $177,000. Finally, JPMorgan Chase & Co. bought a new position in MeetMe during the first quarter valued at $177,000. Institutional investors own 52.72% of the company’s stock.
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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