Aegis Capital analyst Victor Anthony maintained a Buy rating on The Meet Group Inc (MEET) yesterday and set a price target of $6.25. The company’s shares closed yesterday at $3.52, close to its 52-week low of $3.05.
Anthony observed:
“We allocate a significant amount of our research efforts on a daily basis monitoring the sites of the social and media stocks that we cover such as MEET, FB, TWTR, SNAP, GOOGL, YELP, and MTCH. We have yet to see what the press say is pervasive objectionable content on MEET. As such, we believe there is very little risk of an app store disruption and investors should take advantage of the pullback in the shares, which offers 80% upside to our price target.”
According to TipRanks.com, Anthony is a top 100 analyst with an average return of 15.7% and a 65.6% success rate. Anthony covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, IAC/InterActiveCorp, and Shutterfly.
Currently, the analyst consensus on The Meet Group Inc is a Strong Buy with an average price target of $7.08.
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The Meet Group Inc’s market cap is currently $265M and has a P/E ratio of 41.46. The company has a Price to Book ratio of 1.32.
Based on the recent corporate insider activity of 50 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.
