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MeetMe (MEET) Rises to One-Year High on High Volume

NEW YORK (TheStreet) -- MeetMe (MEET - Get Report) rose to a one-year high of $2.92 on Thursday on higher-than-usual volume.

The stock had a volume of 4,259,424, well above its average of 781,215. It closed up 9.43%, or 23 cents, greater than its previous close of $2.44 and hit a low of $2.61 for the day. It holds a one-year low of $1.07.

The only news of the day tied to the company was the announcement that it would present at the JMP Securities Technology Conference at the Ritz-Carlton in San Francisco on March 3-4. MeetMe will give its presentation on Tuesday, March 4 2:30 PM PT. Chief Executive Officer Geoff Cook and Chief Financial Officer David Clark will lead the presentation.

TheStreet Ratings team rates MEETME INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

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"We rate MEETME INC (MEET) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Internet Software & Services industry and the overall market, MEETME INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • MEET has underperformed the S&P 500 Index, declining 12.79% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • MEETME INC has improved earnings per share by 42.9% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, MEETME INC continued to lose money by earning -$0.18 versus -$0.44 in the prior year. For the next year, the market is expecting a contraction of 50.0% in earnings (-$0.27 versus -$0.18).
  • MEET, with its decline in revenue, underperformed when compared the industry average of 16.5%. Since the same quarter one year prior, revenues fell by 13.1%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • Although MEET's debt-to-equity ratio of 0.09 is very low, it is currently higher than that of the industry average. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.43, which illustrates the ability to avoid short-term cash problems.
  • You can view the full analysis from the report here: MEET Ratings Report

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