In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on The Meet Group Inc (NYSE MKT: MEET), with a price target of $6. The company’s shares closed yesterday at $4.92, close to its 52-week high of $5.35.
“We recently hosted investor meetings with MEET’s CEO (Geoff Cook) and CFO (Jim Budgen) and remain positive on shares. Key points include: 1) thus far, MEET is not seeing cannibalization of its core Lovoo subscription business from the launch of video, and 2) it continues to see an advertising business that resembles historical seasonal patterns, which corroborates our recent 3Q ad industry checks. We maintain our view MEET shares offer compelling risk/ reward and upside bias to 2H18 and FY19 estimates. Video. One of the key points we took away with us was that MEET has not seen cannibalization of its core Lovoo subscription business since its launch of live video several months ago, which serves as an encouraging data point.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 16.5% and a 55.7% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Mitek Systems Inc, and RumbleON Inc.
Currently, the analyst consensus on The Meet Group Inc is a Moderate Buy with an average price target of $6.
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The company has a one-year high of $5.35 and a one-year low of $1.84. Currently, The Meet Group Inc has an average volume of 1.04M.
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The Meet Group, Inc. engages in the provision of mobile social entertainment apps designed for human connections. Its primary apps include MeetMe, LOOVOO, Skout, and Tagged. It operates through the mobile platforms like iPhone, Android, iPad and other tablets. The company was founded by Jeffrey Scott Peterson in June 1997 and is headquartered in New Hope, PA.