Tech Stocks Under Scanner -- MeetMe, Akamai Technologies, 58.com, and TrueCar

Aug 31, 2016, 07:45 ET from Chelmsford Park SA

NEW YORK, August 31, 2016 /PRNewswire/ --

Today's pre-market research on Stock-Callers.com is directed to four Technology equities, namely: MeetMe Inc. (NASDAQ: MEET), Akamai Technologies Inc. (NASDAQ: AKAM), 58.com Inc. (NYSE: WUBA), and TrueCar Inc. (NASDAQ: TRUE). As per CNBC, the tech laden Nasdaq has risen more than 110 percent in the last 5 years while technology stocks listed on the S&P 500 have enjoyed similar gains. You can access of our complimentary research reports on these stocks now at:

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MeetMe  

Shares in New Hope, Pennsylvania headquartered MeetMe Inc. ended Tuesday's session at $5.56, which was a slight drop of 0.18%. The stock recorded a trading volume of 2.21 million shares. The Company's shares have surged 51.09% in the previous three months and 55.31% since the start of this year. The stock is trading 41.20% above its 200-day moving average. Moreover, shares of MeetMe, which owns and operates a social network for meeting new people on the Web and on mobile platforms in the US, have a Relative Strength Index (RSI) of 44.48.

On August 1st, 2016, MeetMe reported that total revenue increased 48% y-o-y to $16.4 million in Q2 2016. The company's adjusted EBITDA margin increased to 37%, up from 26% in Q2 2015. GAAP net income was $29.6 million, or $0.55 per diluted share. GAAP net income included a one-time deferred tax benefit of $27.3 million. Excluding the deferred tax benefit, GAAP net income was $2.3 million, up 94% from Q2 2015.

On August 26th, 2016, research firm Loop Capital initiated a 'Buy' rating on the Company's stock. Visit us today and download your complete report on MEET for free at:

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Akamai Technologies  

Cambridge, Massachusetts headquartered Akamai Technologies Inc.'s stock saw a slight decline of 0.27%, closing the day at $54.89 with a total volume of 1.17 million shares traded. The Company's shares have advanced 8.48% in the last month, 0.86% in the previous three months, and 4.29% on an YTD basis. The stock is trading 1.75% and 4.01% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Akamai Technologies, which provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the US and internationally, have an RSI of 61.74.

On August 12th, 2016, research firm Wells Fargo upgraded the Company's stock rating from 'Market Perform' to 'Outperform'.

On August 15th, 2016, Akamai Technologies announced the election of Daniel R. Hesse to the Akamai Board of Directors effective August 10th, 2016. In addition to his nearly seven years as President and CEO of Sprint Corporation, Mr. Hesse has also served as Chairman and CEO of Embarq Corp. Previously, he was Chairman, President, and CEO of Terabeam Corp. The complimentary research report on AKAM can be accessed at:

http://stock-callers.com/registration/?symbol=AKAM

58.com  

On Tuesday, Beijing, the People's Republic of China headquartered 58.com Inc.'s stock recorded a trading volume of 1.05 million shares, and ended the day 0.15% lower at $46.10. Shares of the Company, which operates an online marketplace for local merchants and consumers in the People's Republic of China, are trading below their 50-day moving average by 5.65%. The stock has an RSI of 36.77.

On August 17th, 2016, 58.com reported that total revenues were US$297.8 million in Q2 2016, an 86.7% increase from the same quarter last year. The company's non-GAAP income from operations was US$55.3 million compared to non-GAAP loss from operations of US$30.3 million in the same quarter of 2015. Net income attributable to 58.com Inc. was US$13.9 million compared to net loss attributable to 58.com Inc. of US$26.9 million in the same quarter of 2015. Register for free on Stock-Callers.com and download the PDF research report on WUBA at:

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TrueCar  

Santa Monica, California headquartered TrueCar Inc.'s stock rose 1.79%, finishing yesterday's session at $9.67. A total volume of 1.08 million shares was traded, which was above their three months average volume of 651,630 shares. The Company's shares have advanced 34.31% in the previous three months and 1.36% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 5.19% and 32.28%, respectively. Additionally, shares of TrueCar, which together with its subsidiaries, operates as an Internet-based information, technology, and communication services company, have an RSI of 46.56.

On August 4th, 2016, TrueCar reported that Q2 2016 total revenue was up 2% from a year ago to $66.4 million. The company posted Q2 net loss of $14.7 million, or $(0.17) per share, compared to net loss of $14.7 million, or $(0.18) per share, in Q2 2015. Franchise Dealer count was 10,135 as of June 30th, 2016, an increase from 9,281 as of March 31st, 2016.

On August 11th, 2016, research firm Loop Capital initiated a 'Hold' rating on the Company's stock, issuing a target price of $11 per share. Get free access to your research report on TRUE at:

http://stock-callers.com/registration/?symbol=TRUE

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