MeetMe, Inc. (NASDAQ:MEET) Downgraded by BidaskClub to “Hold”

MeetMe, Inc. (NASDAQ:MEET) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Monday, July 24th.

A number of other analysts also recently issued reports on the company. Loop Capital reissued a “buy” rating and issued a $9.00 target price on shares of MeetMe in a research report on Wednesday, May 10th. Zacks Investment Research downgraded MeetMe from a “buy” rating to a “sell” rating in a research report on Saturday, May 13th. Roth Capital set a $9.00 target price on MeetMe and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, ValuEngine downgraded MeetMe from a “buy” rating to a “hold” rating in a research 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 assigned a buy rating to the company. MeetMe has a consensus rating of “Hold” and an average target price of $7.90.

MeetMe (MEET) opened at 3.60 on Monday. The company’s 50 day moving average price is $4.72 and its 200-day moving average price is $5.04. MeetMe has a 12-month low of $3.41 and a 12-month high of $6.47. The firm has a market capitalization of $258.47 million, a price-to-earnings ratio of 15.06 and a beta of 0.86.

MeetMe (NASDAQ:MEET) last issued its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. MeetMe had a return on equity of 11.47% and a net margin of 15.95%. The business had revenue of $31.33 million for the quarter, compared to analyst estimates of $30.70 million. During the same period last year, the company posted $0.09 earnings per share. MeetMe’s quarterly revenue was up 91.2% compared to the same quarter last year. On average, equities analysts anticipate that MeetMe will post $0.43 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in MEET. Eagle Global Advisors LLC boosted its position in shares of MeetMe by 16.2% in the first quarter. Eagle Global Advisors LLC now owns 84,693 shares of the information services provider’s stock valued at $499,000 after buying an additional 11,783 shares during the period. Bank of New York Mellon Corp boosted its position in shares of MeetMe by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 325,789 shares of the information services provider’s stock valued at $1,919,000 after buying an additional 25,037 shares during the period. American Century Companies Inc. boosted its position in shares of MeetMe by 5.4% in the first quarter. American Century Companies Inc. now owns 385,582 shares of the information services provider’s stock valued at $2,271,000 after buying an additional 19,709 shares during the period. Algert Global LLC bought a new position in shares of MeetMe during the first quarter valued at $134,000. Finally, LSV Asset Management bought a new position in shares of MeetMe during the first quarter valued at $553,000. Institutional investors own 50.15% of the company’s stock.

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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