Canaccord Genuity Initiates Coverage On MeetMe Inc to Buy with Price Target $10

Canaccord Genuity Initiates Coverage On MeetMe Inc(MEET). In a research note issued to the investors, the brokerage major Announces the price-target to $10 per share. The shares have been rated Buy. The rating by the stock financial advisor at Canaccord Genuity was issued on Mar 20, 2017 in a research report to their Investors and Clients.

MeetMe Inc (MEET) shares turned negative on Wednesdays trading session with the shares closing down -0.08 points or -1.52% at a volume of 17,30,476. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.2699. The peak price level was also seen at $5.2699 while the days lowest was $5.165. Finally the shares closed at $5.19. The 52-week high of the shares is $8.11 while the 52-week low is $2.71. According to the latest information available, the market cap of the company is $309 M.

MeetMe Inc(MEET) last announced its earnings results on Mar 6, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $29.222M. Analysts had an estimated revenue of $28.750M. Earnings per share were $0.19. Analysts had estimated an EPS of $0.16.

Several Insider Transactions has been reported to the SEC. On Jan 20, 2017, Geoffrey Cook (Chief Executive Officer) sold 250,000 shares at $5.03 per share price.Also, On Dec 12, 2016, David D Clark (Chief Financial Officer) sold 94,291 shares at $5.30 per share price.On Dec 1, 2016, Jonah H Harris (Chief Technology Officer) sold 4,000 shares at $4.88 per share price, according to the Form-4 filing with the securities and exchange commission.

MeetMe Inc. is a location-based social network for meeting new people both on the Web and on mobile platforms including on iPhone Android iPad and other tablets that facilitate interactions among users. The Company is a social media technology company that owns and operates MeetMe.com. The Company monetizes through advertising in-app purchases and paid subscriptions. The Company provides users with access to a menu of resources that promote social interaction information sharing and other topics of interest to users. The Company had approximately 4.98 million monthly active users (MAUs). The Company offers online marketing capabilities which enable marketers to display their advertisements in different formats and in different locations. The Company works with its advertisers to maximize the effectiveness of their campaigns by optimizing advertisement formats and placement.

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