The Meet Group Inc (NASDAQ:MEET) May Have Just Reached An Inflection Point; Canaccord Genuity Downgrades Shares

February 15, 2018 - By Henry Gaston

  The Meet Group Inc (NASDAQ:MEET) May Have Just Reached An Inflection Point; Canaccord Genuity Downgrades Shares

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

In a note issued on Wednesday, 8 November, research professionals at Canaccord Genuity’s equity division lowered the rating for shares of The Meet Group Inc (NASDAQ:MEET) to a Hold. They now have a key target price per share of $4.0 on MEET shares, equating to 49.81 % more upside.

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 firm earned “Buy” rating on Thursday, November 9 by Northland Capital. The company was downgraded on Thursday, November 9 by JMP Securities. JMP Securities maintained The Meet Group, Inc. (NASDAQ:MEET) on Monday, August 7 with “Market Outperform” rating. As per Monday, July 31, the company rating was maintained by Roth Capital. The firm earned “Buy” rating on Wednesday, October 28 by Roth Capital. The stock of The Meet Group, Inc. (NASDAQ:MEET) earned “Buy” rating by Topeka Capital Markets on Tuesday, January 26. On Thursday, November 9 the stock rating was downgraded by Canaccord Genuity to “Hold”. The stock of The Meet Group, Inc. (NASDAQ:MEET) has “Buy” rating given on Thursday, November 9 by Roth Capital. The stock has “Buy” rating by Roth Capital on Tuesday, May 30. Roth Capital maintained the shares of MEET in report on Tuesday, August 22 with “Buy” rating.

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 earnings per share, 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 earnings per share 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: Prnewswire.com, which released: “Free Research Reports on These Internet Stocks — Meet Group, Wix.com, YY, and …” on February 06, 2018. Businesswire.com‘s article titled: “The Meet Group Announces that Catherine Cook Connelly will Present at SXSW and …” and published on January 18, 2018 is yet another important article.

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