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MeetMe: Part Match.com, Part Facebook; Are Investors Expecting A Bid From Either?

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June 16, 2016 3:42 pm
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MeetMe: Part Match.com, Part Facebook; Are Investors Expecting A Bid From Either?
  • MeetMe, Inc (NASDAQ: MEET) is up 9 percent since news of LinkedIn Corp (NYSE: LNKD)’s purchase by Microsoft Corporation (NASDAQ: MSFT).
  • Other Internet/social media companies have risen also — Twitter Inc (NYSE: TWTR) is up 7.5 percent and Match Group Inc (NASDAQ: MTCH) of Match.com is up 5 percent, in the same time frame.
  • Regardless of the mysterious price action, there’re reasons to buy.

With no meaningful headlines or technical indicators to explain the pop, it’s possible that MeetMe is experiencing some sympathy gains, with the market debating whether the Microsoft deal will spark a wave of Internet M&A.

If investors are suspecting a potential buyout for MeetMe, it wouldn’t be the first time. Former speculated bidders include Facebook Inc (NASDAQ: FB), Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) and Yahoo! Inc. (NASDAQ: YHOO).

Related Link: Say Cheese! Facebook Introduces Video Commenting Capabilities

No matter. There’s a number of reasons investors may want to pay some attention: The stock is trading above its 20-, 50-, and 200-day moving averages.

  • The company has beaten sales estimates the past 5 quarters and had EPS surprised three out of the last five quarters.
  • MeetMe is up 34.6 percent since a Benzinga.com article advised buying on the dip in January.
  • Analysts from Wunderlich, Roth Capital and Topeka Capital all rate it a Buy.

MeetMe shares were up another 2.6 percent about an hour before the end of Thursday’s session.


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