Wunderlich Securities Believes Mobile DAU Growth Should Enable MeetMe to Meet Mobile Revenue Estimates

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In a report published Thursday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating and $4.50 price target on MeetMe (NASDAQ: MEET).In the report, Wunderlich Securities noted, “This week we had MeetMe, Inc.'s (MEET) CEO and CFO on the road to meet with investors and we believe the company has been executing well on its product roadmap, which has led to a record number of mobile DAUs (daily active users) in Q3. The company announced mobile DAUs of 888,000 for Q3, along with a record amount of chat activity for the month of September, which should translate to mobile revenues slightly above our Q3 estimate of $6.4 million. Given the strong mobile user numbers and chat engagement in 3Q, we expect the company to continue to drive user growth with new product features through the rest of the year and we reiterate our Buy rating.”MeetMe closed on Wednesday at $1.87.

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