Match Group (NASDAQ:MTCH) Issues Earnings Results, Hits Estimates

Match Group (NASDAQ:MTCH) released its earnings results on Tuesday. The technology company reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48, Briefing.com reports. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The company had revenue of $864.07 million during the quarter, compared to analyst estimates of $856.51 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis.

Match Group Stock Performance

Shares of Match Group stock traded up $0.49 on Tuesday, reaching $33.69. The stock had a trading volume of 4,025,854 shares, compared to its average volume of 5,641,859. The business’s 50-day moving average price is $31.29 and its two-hundred day moving average price is $33.41. The stock has a market cap of $8.95 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.49. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $49.24.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Wolfe Research initiated coverage on shares of Match Group in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price for the company. Raymond James began coverage on shares of Match Group in a research note on Thursday, April 4th. They issued a “market perform” rating on the stock. UBS Group reduced their price objective on Match Group from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Wells Fargo & Company dropped their target price on Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.79.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.