The Meet Group Inc (MEET) Gets a Buy Rating from Northland Securities

By Jason Carr

Northland Securities analyst Michael Latimore maintained a Buy rating on The Meet Group Inc (MEETResearch Report) today and set a price target of $7. The company’s shares closed yesterday at $4.93.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 15.5% and a 58.9% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Brightcove Inc, and Everbridge Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for The Meet Group Inc with a $7.67 average price target, a 55.6% upside from current levels. In a report issued on April 29, Roth Capital also maintained a Buy rating on the stock with a $8 price target.

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Based on The Meet Group Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.29 million. In comparison, last year the company had a GAAP net loss of $4.21 million.

Based on the recent corporate insider activity of 53 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.