Meet Group (NASDAQ:MEET) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $3.25 price target on the information services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.07% from the company’s current price.
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 topic of several other research reports. Canaccord Genuity reiterated a “hold” rating and set a $4.00 target price on shares of Meet Group in a report on Tuesday, December 19th. Roth Capital reiterated a “buy” rating and set a $7.25 target price on shares of Meet Group in a report on Wednesday, October 25th. JMP Securities lowered Meet Group from an “outperform” rating to a “market perform” rating and set a $6.00 target price on the stock. in a report on Thursday, November 9th. Finally, ValuEngine lowered Meet Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.90.
Meet Group (NASDAQ MEET) remained flat at $$2.90 on Wednesday. The stock had a trading volume of 811,232 shares, compared to its average volume of 1,405,214. Meet Group has a 52 week low of $2.19 and a 52 week high of $6.45. The firm has a market cap of $208.24, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.67 and a beta of 0.91.
Meet Group (NASDAQ:MEET) last released its earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $32.25 million for the quarter, compared to analyst estimates of $32.33 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Meet Group’s revenue was up 87.6% on a year-over-year basis. equities research analysts forecast that Meet Group will post 0.25 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC acquired a new position in Meet Group during the second quarter worth approximately $304,000. Cubist Systematic Strategies LLC increased its position in Meet Group 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 buying an additional 4,827 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Meet Group 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 buying an additional 9,383 shares during the last quarter. Voya Investment Management LLC increased its position in Meet Group by 50.0% during the second quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock worth $144,000 after buying an additional 9,528 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in Meet Group by 28.2% during the second quarter. Nationwide Fund Advisors now owns 51,568 shares of the information services provider’s stock worth $260,000 after buying an additional 11,333 shares during the last quarter. 50.85% of the stock is currently owned by hedge funds and other institutional investors.
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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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