MeetMe rallies following bullish SA Pro column

|By:, SA News Editor

In a column now out of embargo, SA Pro contributor Inflection Point Investing trumpets MeetMe's (MEET +5%) mobile revenue growth (+127% Y/Y in Q4), and argues it stands to offset weakening PC/Web revenue.

The author sees the launch of three new apps - Charm, Choosy, and Unsaid - further boosting MeetMe's mobile growth, and expects the company to narrow the gap that exists between its mobile and Web average revenue per daily active user ($.04 vs. $.13), thanks in part to a deal with mobile ad firm Pinsight Media+.

IPI notes shares currently trade at 10x 2014E EV/EBITDA, and thinks a low-20s multiple is possible as growth accelerates.

Shares are up 11% over the last two days.