Zacks Investment Research upgraded shares of Meet Group (NASDAQ:MEET) from a sell rating to a hold rating in a research note published on Wednesday.
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 several other reports. Canaccord Genuity cut Meet Group 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 reaffirmed a buy rating and set a $7.25 price objective on shares of Meet Group in a research report on Wednesday, October 25th. JMP Securities cut Meet Group from an outperform rating to a market perform rating and set a $6.00 price objective for the company. in a research report on Thursday, November 9th. Finally, ValuEngine cut Meet Group from a buy rating to a hold rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $6.56.
Meet Group (NASDAQ MEET) traded down $0.01 during mid-day trading on Wednesday, hitting $2.91. The stock had a trading volume of 479,356 shares, compared to its average volume of 645,233. The firm has a market capitalization of $204.65, a PE ratio of 14.55, a P/E/G ratio of 0.68 and a beta of 0.91. Meet Group has a 52 week low of $2.19 and a 52 week high of $6.45.
Meet Group (NASDAQ:MEET) last posted its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $32.25 million during the quarter, compared to analysts’ expectations of $32.33 million. Meet Group had a return on equity of 10.85% and a net margin of 11.90%. Meet Group’s revenue for the quarter was up 87.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. equities analysts predict that Meet Group will post 0.25 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Meet Group by 22.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,884,568 shares of the information services provider’s stock worth $29,717,000 after acquiring an additional 1,069,400 shares in the last quarter. Vanguard Group Inc. raised its holdings in Meet Group by 16.0% during the second quarter. Vanguard Group Inc. now owns 2,921,407 shares of the information services provider’s stock worth $14,754,000 after acquiring an additional 403,518 shares in the last quarter. State Street Corp raised its holdings in Meet Group by 21.7% during the second quarter. State Street Corp now owns 1,517,691 shares of the information services provider’s stock worth $7,665,000 after acquiring an additional 270,948 shares in the last quarter. Lyon Street Capital LLC raised its holdings in Meet Group by 7.8% during the second quarter. Lyon Street Capital LLC now owns 1,050,885 shares of the information services provider’s stock worth $5,307,000 after acquiring an additional 76,215 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in Meet Group by 19.5% during the third quarter. Foundry Partners LLC now owns 1,044,850 shares of the information services provider’s stock worth $3,803,000 after acquiring an additional 170,425 shares in the last quarter. Institutional investors and hedge funds own 50.85% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was first published by Transcript Daily and is owned by of Transcript Daily. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://transcriptdaily.com/2018/01/05/meet-group-meet-upgraded-by-zacks-investment-research-to-hold.html.
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.
Receive News & Ratings for Meet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meet Group and related companies with MarketBeat.com's FREE daily email newsletter.