JMP Securities Initiates Coverage On MeetMe Inc. Giving Outperform Rating

In a report released Thursday, JMP Securities analyst Ronald Josey initiates coverage on MeetMe Inc

, giving the company a Outperform rating and a price target of $3.00 a share. Analyst 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.