Brokerages Anticipate MeetMe, Inc. (MEET) Will Post Quarterly Sales of $32.00 Million
Wall Street brokerages forecast that MeetMe, Inc. (NASDAQ:MEET) will announce $32.00 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for MeetMe’s earnings, with estimates ranging from $31.50 million to $32.50 million. MeetMe posted sales of $17.19 million in the same quarter last year, which suggests a positive year over year growth rate of 86.2%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Monday, November 6th.
On average, analysts expect that MeetMe will report full year sales of $32.00 million for the current financial year, with estimates ranging from $120.30 million to $121.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $135.80 million per share, with estimates ranging from $131.90 million to $139.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow MeetMe.
MeetMe (NASDAQ:MEET) last issued its earnings results on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $31.33 million during 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%. The business’s revenue for the quarter was up 91.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS.
A number of equities research analysts recently weighed in on the stock. Roth Capital set a $9.00 target price on shares of MeetMe and gave the company a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, JMP Securities lowered their target price on shares of MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a research note on Monday, August 7th. One equities 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 stock. The company presently has an average rating of “Hold” and an average target price of $8.25.
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Shares of MeetMe (NASDAQ MEET) opened at 3.44 on Friday. The company’s 50 day moving average is $3.72 and its 200 day moving average is $4.60. The company has a market capitalization of $246.99 million, a price-to-earnings ratio of 14.39 and a beta of 0.74. MeetMe has a one year low of $3.41 and a one year high of $6.45.
Hedge funds have recently bought and sold shares of the business. IHT Wealth Management LLC purchased a new position in shares of MeetMe during the second quarter worth approximately $304,000. Sterling Investment Advisors Ltd. raised its stake in shares of MeetMe by 33.3% during the second quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock worth $101,000 after acquiring an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of MeetMe by 31.8% during the second quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock worth $101,000 after acquiring an additional 4,827 shares in the last quarter. American International Group Inc. raised its stake in shares of MeetMe by 7.1% during the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock worth $150,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of MeetMe by 56.4% during the second quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock worth $131,000 after acquiring an additional 9,383 shares in the last quarter. 56.31% of the stock is currently owned by hedge funds and other institutional investors.
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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