Meet Group (MEET) closed the most recent trading day at $3.41, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.05%.
Coming into today, shares of the dating site company had lost 3.99% in the past month. In that same time, the Computer and Technology sector gained 3.77%, while the S&P 500 gained 3.85%.
Wall Street will be looking for positivity from MEET as it approaches its next earnings report date. On that day, MEET is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 10%. Our most recent consensus estimate is calling for quarterly revenue of $50.60 million, up 10.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.48 per share and revenue of $210.27 million, which would represent changes of +33.33% and +17.72%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MEET. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MEET is currently a Zacks Rank #3 (Hold).
Looking at its valuation, MEET is holding a Forward P/E ratio of 7.06. This represents a discount compared to its industry's average Forward P/E of 54.95.
Investors should also note that MEET has a PEG ratio of 0.29 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 2.73 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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