MeetMe (NASDAQ:MEET) Upgraded by Zacks Investment Research to “Hold”

MeetMe (NASDAQ:MEET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday, November 18th.

According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “

MEET has been the subject of a number of other reports. Canaccord Genuity downgraded MeetMe from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a research report on Thursday, November 9th. Roth Capital set a $9.00 price objective on MeetMe and gave the stock a “buy” rating in a research report on Monday, July 31st. BidaskClub downgraded MeetMe from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, JMP Securities lowered their price objective on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating for the company in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.06.

MeetMe (NASDAQ:MEET) traded up $0.03 on Friday, hitting $2.36. The stock had a trading volume of 854,164 shares, compared to its average volume of 1,517,074. The firm has a market cap of $169.10, a price-to-earnings ratio of 6.50, a P/E/G ratio of 0.48 and a beta of 0.91. MeetMe has a 12 month low of $2.19 and a 12 month high of $6.45.

MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $32.25 million for the quarter, compared to analyst estimates of $32.33 million. MeetMe had a return on equity of 10.85% and a net margin of 11.90%. MeetMe’s revenue was up 87.6% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. sell-side analysts forecast that MeetMe will post 0.25 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MEET. Dimensional Fund Advisors LP increased its holdings in shares of MeetMe by 22.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,884,568 shares of the information services provider’s stock valued at $29,717,000 after acquiring an additional 1,069,400 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of MeetMe by 24.3% during 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 acquiring an additional 493,038 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of MeetMe by 60.8% during 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 during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of MeetMe by 29.1% during the second quarter. Pacific Ridge Capital Partners LLC now owns 1,319,351 shares of the information services provider’s stock valued at $6,663,000 after buying an additional 297,510 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of MeetMe by 65.1% during the second quarter. Northern Trust Corp now owns 743,795 shares of the information services provider’s stock valued at $3,756,000 after buying an additional 293,396 shares during the last quarter. Hedge funds and other institutional investors own 50.87% of the company’s stock.

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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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