Analysts: MeetMe, Inc. (NASDAQ:MEET) stock is worth $8.88
By Daniel Wilkinson -
Review Fortune
August 16, 2016
MeetMe, Inc. (NASDAQ:MEET) down -16.55% for the past 5 days, is under coverage of 4 analysts who collectively assign a buy rating on stock. 4 of the brokerages firms have a buy or better rating; the 0 sells versus 0 underperforms. The 4 stock analysts who cover the stock have an average PT at $8.88, with individual targets in the range of $8.5 to $9. The shares ended last trade at $6.15, implying that Wall Street analysts see shares climbing about 44.39 per cent in 12 months’ time.
Insider Activity: Corporate insiders look pessimistic about the outlook of the company stock that they seem to offload shares while they have 71.79 jumped so far this year. A Chief Revenue Officer at MeetMe, Inc. (MEET) sold shares in a trading activity completed on Wednesday August 03, 2016. Alena William offloaded 458,626 shares in the company at a per-share price of $7.07 and ended up generating $3,242,490 in proceeds. Alena William retains 76,333 shares in the stock after this transaction. A General Counsel in the company, Beckley Frederic, on Wednesday August 03, 2016 collected $1,892,310 from the sale of 265,401 shares at a per-share price of $7.07. Insiders are expected to have better knowledge about the health and prospects of their company, which is why insiders’ move deserves attention.
MeetMe, Inc. (NASDAQ:MEET) Earnings to Watch
Investors evaluating MEET stock at the current market price of $6.15/share should know the company will next release quarterly results for the September 2016 quarter. For the reporting quarter, equity analysts expect the stock to deliver $0.09 in earnings per share (EPS). That would represent a -325 per cent year-over-year decrease. Revenue for the same quarter is predicted to arrive at $17.28M.
Earnings Roundup: In the last fiscal quarter alone, MeetMe, Inc. generated nearly $16.39M in sales. That compares with the mean forecast $15.27M. For the prior quarter revenue for the stock hit $13.32M, with EPS at $0.04.
MeetMe, Inc. (MEET) Analyst Coverage
Topeka Capital Markets is a brokerage house chasing shares of MeetMe, Inc. (MEET), so its rating change is noteworthy. The company stock was initiated at Buy, wrote analysts at Topeka Capital Markets, in a research note issued to clients on Tuesday January 26, 2016. There was another key research note provided by ROTH Capital on Wednesday October 28, 2015. The firm launched coverage on MEET at Buy.
Price Momentum: Despite the -16.21% drop in value, the stock’s new closing price reflects a -24.17% fall in price from company’s one year high of $8.11. The stock is currently holding above its 50-day SMA of $5.25 and below its 200-day SMA of $6.45. Over the last 3 months and over the last 6 months, the shares of MeetMe, Inc. (MEET), have changed 62.17% and 4.16%, respectively.
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