The social discovery platform recorded more than 15 million chats sent on Monday, a single-day record. In a press release CEO Geoff Cook noted that in April the service couldn't consistently break 10 million chats a day.
"This acceleration in chat activity is a testament to the strength of our recent launches, including Friend Suggestions and Icebreakers," Cooki said. "We believe it also reflects our audience's strong desire to connect and communicate with new people. As we continue to optimize MeetMe to funnel traffic into Chat more efficiently, we believe we will see additional growth in chat activity and overall mobile daily active users (DAU)."
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. 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: "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 area that we feel has been the company's primary weakness has been its disappointing return on equity." Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength 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.
- MEETME INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, MEETME INC reported poor results of -$0.29 versus -$0.18 in the prior year. This year, the market expects an improvement in earnings (-$0.20 versus -$0.29).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Internet Software & Services industry. The net income increased by 53.3% when compared to the same quarter one year prior, rising from -$7.33 million to -$3.42 million.
- This stock has increased by 75.19% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the future course of this stock, we feel that the risks involved in investing in MEET do not compensate for any future upside potential, despite the fact that it has seen nice gains over the past 12 months.
- Although MEET's debt-to-equity ratio of 0.07 is very low, it is currently higher than that of the industry average. To add to this, MEET has a quick ratio of 1.58, which demonstrates the ability of the company to cover short-term liquidity needs.
- You can view the full analysis from the report here: MEET Ratings Report
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