Aegis Capital Thinks The Meet Group Inc’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Victor Anthony from Aegis Capital maintained a Buy rating on The Meet Group Inc (MEETResearch Report), with a price target of $6.25. The company’s shares closed yesterday at $3.49, close to its 52-week low of $3.05.

Anthony noted:

“We recently held investor meetings with MEET’s CEO Geoffrey Cook, in which he noted that several new near-term engagement and monetization features are on track for launch in the second half. Levels, which encourages both streamers and viewers to increase usage to unlock features by leveling up, is expected to launch on MeetMe and Skout later summer. Levels should increase engagement of the apps. Others such as the Dating Game, which is a nightly speed dating game, is also on track for lunch in 2H19, and should also increase app engagement. MEET also plans to launch special events and thematic Battles, which should drive both monetization and engagement. Lastly, MEET is also expecting to launch a standalone live app for users who want to engage in live streaming but do not want to do so on a dating product.”

According to TipRanks.com, Anthony is a top 100 analyst with an average return of 15.6% and a 66.0% success rate. Anthony covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, Shutterfly, and Facebook.

The Meet Group Inc has an analyst consensus of Strong Buy, with a price target consensus of $7.25, implying a 107.7% upside from current levels. In a report issued on June 28, Northland Securities also assigned a Buy rating to the stock with a $7 price target.

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Based on The Meet Group Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.26 million. In comparison, last year the company had a GAAP net loss of $235.3K.

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.