MeetMe, Inc. (MEET) Given Average Recommendation of “Hold” by Analysts
MeetMe, Inc. (NASDAQ:MEET) has received an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.25.
A number of equities analysts recently issued reports on MEET shares. Zacks Investment Research upgraded shares of MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Roth Capital set a $9.00 price target on shares of MeetMe and gave the stock a “buy” rating in a research note on Wednesday, July 19th. BidaskClub lowered MeetMe from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine lowered MeetMe from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th.
MeetMe (NASDAQ MEET) opened at 3.80 on Friday. The company’s 50-day moving average is $3.86 and its 200 day moving average is $4.88. MeetMe has a 52 week low of $3.41 and a 52 week high of $6.45. The company has a market capitalization of $272.83 million, a price-to-earnings ratio of 15.90 and a beta of 0.80.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $31.33 million for the quarter, compared to analysts’ expectations of $30.70 million. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. MeetMe’s revenue was up 91.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. On average, analysts forecast that MeetMe will post $0.42 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its position in MeetMe by 24.7% in the 2nd quarter. California State Teachers Retirement System now owns 118,651 shares of the information services provider’s stock worth $599,000 after buying an additional 23,500 shares during the last quarter. IHT Wealth Management LLC purchased a new position in MeetMe in the 2nd quarter worth about $304,000. The Manufacturers Life Insurance Company purchased a new position in MeetMe in the 2nd quarter worth about $275,000. Cubist Systematic Strategies LLC raised its position in MeetMe by 31.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock worth $101,000 after buying an additional 4,827 shares during the last quarter. Finally, State Street Corp raised its position in MeetMe by 21.7% in the 2nd quarter. State Street Corp now owns 1,517,691 shares of the information services provider’s stock worth $7,665,000 after buying an additional 270,948 shares during the last quarter. 56.31% of the stock is owned by institutional investors and hedge funds.
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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