Match Group (NASDAQ:MTCH) Releases Earnings Results, Meets Expectations

Match Group (NASDAQ:MTCH) posted its quarterly earnings data on Tuesday. The technology company reported $0.48 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $856.51 million. During the same period in the prior year, the firm earned $0.48 earnings per share. Match Group’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Match Group Stock Up 1.5 %

Shares of MTCH stock traded up $0.49 on Tuesday, reaching $33.69. The company 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 is $31.29 and its 200 day moving average is $33.41. Match Group has a one year low of $27.66 and a one year high of $49.24. The stock has a market capitalization of $8.95 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.49.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MTCH. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada decreased their price target on Match Group from $43.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company lowered their price objective on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Susquehanna dropped their price target on Match Group from $46.00 to $45.00 and set a “positive” rating on the stock in a research note on Monday, May 13th. Finally, Wolfe Research began coverage on shares of Match Group in a research note on Tuesday, July 16th. They set an “outperform” rating and a $36.00 target price for the company. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.79.

Match Group Company Profile

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.