What just happened? The Meet Group, Inc. (NASDAQ:MEET) stock value has climbed by nearly 4.1% or (0.18 points) to $4.44 from its previous close of $4.26. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 693778 contracts so far this session. MEET shares had a relatively better volume day versus average trading capacity of 1.3 million shares, but with a 70.93 million float and a 6.62% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MEET stock indicates that the average analyst price target is $6.6 per share. This means the stock has a potential increase of 48.65% from where the MEET share price has been trading recently which is between $4.18 and $4.46.
During the recent trading session for The Meet Group, Inc. (NASDAQ:MEET), the company witnessed their stock rise $0.13 over a week and surge $1.01 from the price 20 days ago. When compared to their established 52-week high of $6.27, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/03/19. The recent low of $3.05 stood for a -29.19% since 06/14/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.37 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for The Meet Group, Inc., the two-week RSI stands at 69.31. This figure suggests that MEET stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MEET readings is similarly very revealing as it has a stochastic reading of 82.81% at this stage. This figure means that MEET share price today is being oversold.
Technical chart claims that The Meet Group, Inc. (MEET) would settle between $4.42/share to $4.58/share level. However, if the stock price goes below the $4.14 mark, then the market for The Meet Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.02 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.3. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Oppenheimer, assumed coverage of MEET assigning Outperform rating, according to their opinion released on June 21. Aegis Capital, analysts launched coverage of The Meet Group, Inc. (NASDAQ:MEET) stock with a Buy recommendation, according to their flash note issued to investors on May 15. Analysts at ROTH Capital are sticking to their Buy stance. However, on March 08, they lifted price target for these shares to $3.25 from $4.
MEET equity has an average rating of 1.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated The Meet Group, Inc. (NASDAQ:MEET) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MEET stock price is currently trading at 7.51X forward 12-month Consensus EPS estimates, and its P/E ratio is 35.5 while for the average stock in the same group, the multiple is 28. The Meet Group, Inc. current P/B ratio of 1.6 means it is trading at a discount against its industry’s 4.9.
The Meet Group, Inc. (MEET)’s current-quarter revenues are projected to climb by nearly 12.7% to hit $51.54 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 18.6% from $178610 to a noteworthy $211760. At the other end of the current quarter income statement, The Meet Group, Inc. is expected to see its adjusted earnings surge by roughly 20% to hit $0.12 per share. For the fiscal year, MEET’s earnings are projected to climb by roughly 33.3% to hit $0.48 per share.