UPDATE: JMP Securities Initiates Coverage On MeetMe
In a report released Thursday, JMP Securities analyst Ronald Josey initiated coverage on MeetMe (NASDAQ: MEET) with an Outperform rating and a $3 price target.
Analysts at JMP Securities favor MeetMe for its new product releases that focus on increasing engagement. MeetMe reported record mobile usage of over one million active daily users in late July. JMP forecasts continuous expansion in MeetMe margins and positive EBITDA with increase growth in mobile revenue.
JMP Securities' $3.00 price target for MeetMe is based on a 2015 estimate enterprise value multiple of nearly 16x.
Latest Ratings for MEET
|Aug 2016||Loop Capital||Initiates Coverage on||Buy|
|Jan 2016||Topeka||Initiates Coverage on||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.