The Meet Group Inc (MEET) Received its Third Buy in a Row

By Jason Carr

After Roth Capital and Aegis 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 $7. The company’s shares closed on Friday at $3.48, close to its 52-week low of $3.05.

Latimore noted:

“We added one more panelist to the Online Safety Panel (Tues at 1:30), Larry Magid, CEO of Connect Safely. He joins MEET CEO, Match director and special counsel, Association CEO. Notice published last week: Online Safety in the Dating and Social Entertainment Market. IMPORTANT DISCLOSURES AND ANALYST CERTIFICATION ON PAGE 2Company Group is a fast-growing portfolio of mobile apps designed to meet the universal need for human connection. Hi5 let users in more than 100 countries chat, share photos, stream live video, and discuss topics of interest, and are available on iPhone, iPad, and Android in multiple languages.”

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 12.5% and a 56.0% 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 $7.06 average price target, implying a 102.9% upside from current levels. In a report issued on June 21, Oppenheimer also initiated coverage with a Buy rating on the stock with a $7 price target.

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The company has a one-year high of $6.27 and a one-year low of $3.05. Currently, The Meet Group Inc has an average volume of 1.59M.

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.

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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.