After Canaccord Genuity and Roth Capital gave The Meet Group Inc (NASDAQ: MEET) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Michael Latimore maintained a Buy rating on The Meet Group Inc today and set a price target of $6. The company’s shares closed yesterday at $3.44, close to its 52-week low of $3.05.
Latimore observed:
“We are maintaining our EBITDA estimates on lower video revenue, of $84 mil v. $89 mil prior for FY19. from $7. Stock is currently offering an 11.5% FCF yield.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 13.3% and a 56.3% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Brightcove Inc, and Everbridge Inc.
The Meet Group Inc has an analyst consensus of Strong Buy, with a price target consensus of $6.75, which is a 96.2% upside from current levels. In a report issued on July 21, Roth Capital also maintained a Buy rating on the stock with a $8 price target.
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The Meet Group Inc’s market cap is currently $259.7M and has a P/E ratio of 40.52. The company has a Price to Book ratio of 1.27.
Based on the recent corporate insider activity of 49 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.
