Roth Capital Says MeetMe's (MEET) Weakness is Related to Selling From Large Legacy Shareholder - Reiterates Buy

Roth Capital reiterated a Buy rating on MeetMe (NASDAQ: MEET), and raised the price target to $5.25 (from $4.25), despite recent weakness. Roth believes that the weakness could be related to selling from a large legacy shareholder, yet remains one of the strongest fundamental stories in Roth's coverage group.

Analyst Darren Aftahi commented, "We believe recent weakness in MEET (declines of ~35% last four trading days vs. NASDAQ at 4.6%) could be related to selling from a large legacy shareholder. MEET remains one of the strongest fundamental stories in our coverage group. With healthy mobile sales growth, an improving Adj. EBITDA profile, and an implied ‘16E FCF yield of ~14%, we would be aggressive buyers as we believe the weakness is not fundamentally driven."

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 $2.95 yesterday.

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