Wunderlich Securities Sees Share Offer Coming for MeetMe

In a report published Wednesday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating and $4.50 price target on MeetMe MEET. In the report, Wunderlich Securities noted, “Revenue and average mobile daily active users (DAUs) are slightly better than our forecast. The company announced it had $10.7 million in revenue in Q2, which compares to our $10.4 million estimate. Mobile DAUs were 864k in Q2, up 10% Y/Y compared to our 836k estimate and mobile revenues were in line with our $5.6 million estimate, up 114% Y/Y. The user growth can be attributed to successful product upgrades and we have seen continued mobile user growth through July. The mobile average mobile revenue per user (ARPU) was flat from last quarter at $1.92.” MeetMe closed on Tuesday at $2.31.