In the June 2015 issue of The Cheap Investor, we recommended a buy on shares of MeetMe Inc. (MEET) – an undervalued social media network stock trading at a 52-week low. Since then, the stock has exploded to a high of $8.11.
That move was good for a potential return of 398% in 15 months. Every $5,000 risked was now worth a bit more than $24,500.
Not only is the company growing quickly, it just announced a $15 million buyback program. It also just reiterated third quarter guidance, expecting revenue to be in a range of $17 million to $17.5 million, representing growth of 19% and 22% year over year. Adjusted EPS for the quarter is expected to fall in a range of $6.5 million and $7 million, representing growth of 25% to 35% year over year.
As for full-year guidance, it expects revenue of $66 million to $68 million, representing growth of between 16% and 20%. Adjusted EPS for the quarter is expected to fall in a range of $25 million to $27 million, representing growth of between 24% and 33% year over year, as well.
Earnings will be released before the market opens on October 13, 2016.