.jpg "The Meet Group Inc (NYSE MKT: MEET)")
In a report released today, Darren Aftahi from Roth Capital reiterated a Buy rating on The Meet Group Inc (MEET), with a price target of $6.75. The company’s shares opened today at $4.83.
Aftahi commented:
“We would be aggressive buyers on the pullback. Why is the stock down ~14% post 3Q print? We are unsure as to why the stock has reacted so negatively post 3Q print as there were no standout negative aspects to the report or forward guidance. However, our speculation is that it could be due to implied 4Q18 guidance suggesting ~$3M q/q revenue growth, with marginal adj. EBITDA flow through, the q/q decline in blended vARPDAU from ~$0.16 to ~$0.14 (which we believe is shortsighted given Lovoo launch), or the ~flat q/q mobile ARPDAU of ~$0.097 from ~$0.095. In addition, we believe weakness could be attributed to Match Group (MTCH- NC), a MEET peer also trading down ~18% post its 3Q18 print. Given weakness (and valuation), why we would be buyers. We believe the stock reaction is wildly overdone.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 9.7% and a 49.8% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Mitek Systems Inc, and Veritone Inc.
Currently, the analyst consensus on The Meet Group Inc is a Moderate Buy with an average price target of $6.38.
See today’s analyst top recommended stocks >>
Based on The Meet Group Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $235.3K. In comparison, last year the company had a net profit of $2.22 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MEET in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
