Roth Capital Raises Price Target on MeetMe (MEET) Following Pre-Announced Upside

Roth Capital reiterated a Buy rating on MeetMe (NASDAQ: MEET), and raised the price target to $5.25 (from $4.25), following the company's pre-announced upside for sales and record ~42% Adj. EBITDA. Roth's beliefs coming into MEET’s pre-announcement was that 2016 estimates were conservative.

Analyst Darren Aftahi commented, "MEET’s pre-announced upside for sales and record ~42% Adj. EBITDA margins further validates the business model’s earnings power. Even with raised numbers for the Street, we believe there are additional potential catalysts that may lend more upside bias to the story. We believe strengthening mobile average revenue per user (ARPU) should enable MEET to increase marketing spend and user growth as well. On improved estimates, we raise our PT on MEET from $4.25 to $5.25."

For an analyst ratings summary and ratings history on MeetMe click here. For more ratings news on MeetMe click here.

Shares of MeetMe closed at $3.56 yesterday.

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