Brief Report for MeetMe, Inc. (NASDAQ: MEET)
MeetMe, Inc. owns and operates a social network for meeting new people on the Web and on mobile platforms in the United States. The company operates MeetMe.com that provides users with access to a multilingual menu of resources, which promote social interaction, information sharing, and other topics of interest.
Our View: MEET now expects 2015 revenues to be approximately $56.5 million, up from the previous guidance of $53.5 million to $54 million. EBITDA is now forecast to come at approximately $19.5 million, higher than the previous guidance of $16.5–$17.5 million.
In June of last year the company transitioned advertising management from Beanstock Media Inc. to an in-house operation. Since then, MEET has experienced growth in ad revenues. In December the company recorded of over 30 million chats being sent in a single day through its platform and over 4 million mobile users.
MEET is a hot stock and the share price had gradually grown over 180% since October 1st of last year. If investors adhere to basic metrics to measure the share value of MEET they may most likely find that it is priced where it should be. That being said the likely appreciation of these shares could be based on its potential for growth. Compared to Facebook or Twitter MEET is a small company so there is room for them to grow. So far they have not disappointed where growth is concerned.
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