Match Group (NASDAQ:MTCH) Releases Earnings Results, Beats Expectations By $0.05 EPS

Match Group (NASDAQ:MTCH) issued its quarterly earnings data on Wednesday. The technology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05, reports. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. The business had revenue of $895.48 million for the quarter, compared to analysts’ expectations of $900.33 million. Match Group updated its Q4 2024 guidance to EPS.

Match Group Stock Down 1.8 %

NASDAQ:MTCH traded down $0.55 during trading hours on Friday, reaching $30.56. The company had a trading volume of 10,143,629 shares, compared to its average volume of 5,286,069. The stock has a 50-day moving average of $36.70 and a two-hundred day moving average of $33.96. Match Group has a one year low of $27.66 and a one year high of $42.42. The firm has a market capitalization of $7.88 billion, a PE ratio of 13.64, a PEG ratio of 0.79 and a beta of 1.51.

Analyst Ratings Changes

Several brokerages have commented on MTCH. Barclays dropped their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group cut their price objective on Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday. Citigroup lifted their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. TD Cowen lifted their target price on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America reissued a “neutral” rating and issued a $35.00 price target (down previously from $50.00) on shares of Match Group in a research note on Thursday. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Institutional Trading of Match Group

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Match Group by 13.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,240 shares of the technology company’s stock worth $698,000 after purchasing an additional 2,291 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Match Group by 2.7% in the first quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock valued at $2,894,000 after buying an additional 2,083 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Match Group during the first quarter worth about $33,000. Daiwa Securities Group Inc. raised its position in shares of Match Group by 7.4% during the first quarter. Daiwa Securities Group Inc. now owns 29,875 shares of the technology company’s stock worth $1,084,000 after purchasing an additional 2,063 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of Match Group by 151.7% during the first quarter. GSA Capital Partners LLP now owns 22,854 shares of the technology company’s stock worth $829,000 after purchasing an additional 13,774 shares during the period. 94.05% of the stock is currently owned by institutional investors.

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.