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 $6.75. The company’s shares closed yesterday at $4.17.
Aftahi commented:
“We expect MEET to report 3Q18 sales/adj. $7.6M/$0.09, relative to consensus estimates of ~$43.9M/$7.6M/$0.08, and guidance ranges of ~$43M-$44M, and ~$7.4M-$7.8M, respectively. While our total revenue number suggest ~35% y/y growth, we believe there could be some slight upside to this figure given the most recent live video run rate, which was ~$48M annualized for September. We note that when guidance was given on the 2Q call, it was basing revenue guidance off the live video run rate at that time (early August) which was ~$37M annualized, and as such we believe current guidance errs on the conservative side. As such, we model for live video revenue in 3Q of ~$9.7M, up from ~$8.5M q/q, implying total user pay revenue of ~$26M.”
According to TipRanks.com, Aftahi is a 4-star analyst with an average return of 7.7% and a 46.8% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Mitek Systems Inc, and Veritone Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for The Meet Group Inc with a $6.38 average price target.
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The company has a one-year high of $5.63 and a one-year low of $1.84. Currently, The Meet Group Inc has an average volume of 893.8K.
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.
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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.
