MEET: MeetMe Stock Soars on Analyst Coverage

The company is expected to increase revenue in 2015

   

MEET: MeetMe Stock Soars on Analyst Coverage

Shares of social media technology developer MeetMe (MEET) soared more than 20% in Wednesday morning trading after an investment firm started covering the MEET stock.

wrapup trading floor MEET: MeetMe Stock Soars on Analyst CoverageWunderlich Securities analyst Blake T. Harper has issued a “Buy” rating for MEET stock. He has also set a price target of $4.50 for MEET shares, Benzinga notes.

“We expect the company to increase the number of mobile active users, their monetization levels, and its FY15 revenues above the consensus through enhancements to its core app, its mobile advertising deals, and broader trends with younger people sharing content via mobile apps,” Wunderlich Securities said in a research note.

On Tuesday, MEET stock closed at $1.93 per share.

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