Meet Group (MEET) Raised to “Buy” at Zacks Investment Research

Meet Group (NASDAQ:MEET) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $3.25 price objective on the information services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.07% from the company’s previous close.

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. “

A number of other brokerages have also weighed in on MEET. Roth Capital restated a “buy” rating and set a $7.25 price target on shares of Meet Group in a research note on Wednesday, October 25th. JMP Securities lowered Meet Group from an “outperform” rating to a “market perform” rating and set a $6.00 price target on the stock. in a research note on Thursday, November 9th. Canaccord Genuity lowered Meet Group from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research note on Thursday, November 9th. Finally, ValuEngine lowered Meet Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Meet Group currently has a consensus rating of “Hold” and a consensus price target of $5.90.

Meet Group (MEET) opened at $2.80 on Wednesday. Meet Group has a 52 week low of $2.19 and a 52 week high of $6.45. The stock has a market capitalization of $201.06, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.68 and a beta of 0.91.

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

Several hedge funds have recently modified their holdings of the company. Highbridge Capital Management LLC grew its stake in shares of Meet Group by 75.7% during the third quarter. Highbridge Capital Management LLC now owns 225,956 shares of the information services provider’s stock worth $823,000 after acquiring an additional 97,340 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Meet Group by 109.1% during the third quarter. Russell Investments Group Ltd. now owns 142,402 shares of the information services provider’s stock worth $518,000 after acquiring an additional 74,313 shares during the last quarter. Symons Capital Management Inc. purchased a new stake in shares of Meet Group during the third quarter worth about $428,000. Alps Advisors Inc. boosted its position in Meet Group by 22.8% in the third quarter. Alps Advisors Inc. now owns 117,331 shares of the information services provider’s stock valued at $427,000 after buying an additional 21,752 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Meet Group by 5.2% in the third quarter. American Century Companies Inc. now owns 588,729 shares of the information services provider’s stock valued at $2,143,000 after buying an additional 29,245 shares during the last quarter. Institutional investors and hedge funds own 50.85% of the company’s stock.

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Meet Group 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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