Analysts from Zacks Equity Research are predicting that The Meet Group will report a record high revenue when it reveals the financial results for the quarter ended December 2019.
There has been no official word on when the online dating and livestreaming company will publish the report, but in previous years it has come during the first week of March.
Total revenues are expected to be above $57 million, a year-on-year increase of almost 10%. Quarterly earnings of $0.16 per share are also estimated, which indicate a potential positive growth of one-third.
However, Zacks warns that if the actual results fall short of these forecasts, then The Meet Group’s stock price could be detrimentally affected.
The price of a share has been steadily growing over the past five months and peaked at $6.81 on 20th February. It has since been experiencing a drop-off of approximately 20%, and finished at $5.48 when the market closed yesterday.
The Meet Group has had an added focus on member safety and privacy so far in 2020. Last month, it announced the implementation of new biometric technology that allows users to verify their identity in just a few seconds.
Rumours have also circulated that Match Group had offered itself to The Meet Group as a potential acquisition. The online dating umbrella is allegedly concerned about how it is going to operate as an independent company.
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