Is The Meet Group Inc (NASDAQ:MEET) Now a Sell? Canaccord Genuity Downgrades Stock

February 15, 2018 - By Darrin Black

  Is The Meet Group Inc (NASDAQ:MEET) Now a Sell? Canaccord Genuity Downgrades Stock

The Meet Group Inc (NASDAQ:MEET) Receives a Downgrade

Canaccord Genuity lowered their rating for shares of The Meet Group Inc (NASDAQ:MEET) to a Hold in an analyst note sent to investors on 8 November. The financial firm now has a firm $4.0 TP on The Meet Group Inc (NASDAQ:MEET).

The Meet Group, Inc. (NASDAQ:MEET) Ratings Coverage

Among 7 analysts covering MeetMe Inc (NASDAQ:MEET), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. MeetMe Inc has $10 highest and $4.0 lowest target. $5.88’s average target is 120.22% above currents $2.67 stock price. MeetMe Inc had 22 analyst reports since October 28, 2015 according to SRatingsIntel. The stock of The Meet Group, Inc. (NASDAQ:MEET) earned “Buy” rating by Topeka Capital Markets on Tuesday, January 26. The firm has “Buy” rating given on Tuesday, May 30 by Roth Capital. The rating was downgraded by Canaccord Genuity on Thursday, November 9 to “Hold”. The firm has “Outperform” rating by Northland Capital given on Friday, December 11. Roth Capital maintained The Meet Group, Inc. (NASDAQ:MEET) on Wednesday, July 19 with “Buy” rating. The firm has “Buy” rating given on Thursday, November 9 by Northland Capital. As per Wednesday, October 25, the company rating was maintained by Roth Capital. On Friday, August 26 the stock rating was initiated by Loop Capital with “Buy”. As per Wednesday, October 28, the company rating was initiated by Roth Capital. The company was downgraded on Thursday, November 9 by JMP Securities.

The stock decreased 2.20% or $0.06 during the last trading session, reaching $2.67. About 195,254 shares traded. The Meet Group, Inc. (NASDAQ:MEET) has risen 40.79% since February 15, 2017 and is uptrending. It has outperformed by 24.09% the S&P500.

Analysts await The Meet Group, Inc. (NASDAQ:MEET) to report earnings on March, 5. They expect $0.06 EPS, down 64.71 % or $0.11 from last year’s $0.17 per share. MEET’s profit will be $4.31 million for 11.13 P/E if the $0.06 EPS becomes a reality. After $0.09 actual EPS reported by The Meet Group, Inc. for the previous quarter, Wall Street now forecasts -33.33 % negative EPS growth.

The Meet Group, Inc. owns and operates a social network for meeting new people on the Web and on mobile platforms in the United States. The company has market cap of $191.72 million. The firm owns and operates MeetMe and Skout mobile applications; and meetme.com and skout.com Websites. It has a 13.76 P/E ratio. It also offers online marketing capabilities, which enable marketers to display their advertisements in various formats and in various locations.

More news for The Meet Group, Inc. (NASDAQ:MEET) were recently published by: Businesswire.com, which released: “The Meet Group Announces that Catherine Cook Connelly will Present at SXSW and …” on January 18, 2018. Prnewswire.com‘s article titled: “Free Research Reports on These Internet Stocks — Meet Group, Wix.com, YY, and …” and published on February 06, 2018 is yet another important article.

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