Equities researchers at Topeka Capital Markets started coverage on shares of MeetMe Inc (NASDAQ:MEET) in a report released on Tuesday, The Fly reports. The firm set a “buy” rating and a $6.00 price target on the stock. Topeka Capital Markets’ target price points to a potential upside of 98.02% from the company’s current price.

In related news, Director Spencer Garrett Rhodes sold 95,917 shares of the stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $3.18, for a total value of $305,016.06. Following the sale, the director now directly owns 31,145 shares of the company’s stock, valued at approximately $99,041.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Abbott sold 210,000 shares of the stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $4.01, for a total transaction of $842,100.00. Following the completion of the sale, the director now directly owns 127,500 shares in the company, valued at $511,275. The disclosure for this sale can be found here.

Several other research analysts also recently commented on MEET. Zacks Investment Research downgraded shares of MeetMe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Roth Capital initiated coverage on shares of MeetMe in a report on Wednesday, October 28th. They issued a “buy” rating and a $4.00 price target for the company. JMP Securities increased their price target on shares of MeetMe from $3.00 to $4.00 and gave the company a “market outperform” rating in a report on Wednesday, November 4th. Finally, Northland Securities increased their price target on shares of MeetMe from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Friday, December 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $4.95.

MeetMe (NASDAQ:MEET) traded up 3.41% during mid-day trading on Tuesday, reaching $3.03. The company’s stock had a trading volume of 1,007,682 shares. The firm’s 50 day moving average is $3.33 and its 200-day moving average is $2.33. MeetMe has a one year low of $1.32 and a one year high of $4.54. The stock has a market cap of $138.29 million and a P/E ratio of 189.37.

MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $14.30 million for the quarter, compared to the consensus estimate of $13.50 million. Equities analysts expect that MeetMe will post $0.13 earnings per share for the current fiscal year.

An institutional investor recently raised its position in MeetMe stock. Acadian Asset Management boosted its position in MeetMe Inc (NASDAQ:MEET) by 3,253.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,050 shares of the company’s stock after buying an additional 284,310 shares during the period. Acadian Asset Management owned approximately 0.64% of MeetMe worth $1,049,000 at the end of the most recent quarter.

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 (NASDAQ:MEET). 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.

12 Month Chart for NASDAQ:MEET

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