Match Group (NASDAQ:MTCH) Posts Earnings Results, Meets Estimates

Match Group (NASDAQ:MTCH) announced its quarterly earnings data on Tuesday. The technology company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48, Briefing.com reports. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year.

Match Group Trading Up 1.5 %

Shares of NASDAQ:MTCH traded up $0.49 on Tuesday, reaching $33.69. 3,901,450 shares of the company were exchanged, compared to its average volume of 5,641,001. Match Group has a 1-year low of $27.66 and a 1-year high of $49.24. The company has a 50-day moving average of $31.29 and a 200-day moving average of $33.41. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.56 and a beta of 1.49.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTCH. UBS Group decreased their price target on shares of Match Group from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Royal Bank of Canada reduced their price objective on shares of Match Group from $43.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Wolfe Research started coverage on shares of Match Group in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price on the stock. Raymond James started coverage on shares of Match Group in a report on Thursday, April 4th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Match Group from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Match Group presently has an average rating of “Moderate Buy” and a consensus target price 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.