Match Group (NASDAQ:MTCH) Issues Earnings Results, Beats Expectations By $0.04 EPS

Match Group (NASDAQ:MTCH) released its quarterly earnings data on Tuesday. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04, Briefing.com reports. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same period in the previous year, the company earned $0.42 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis.

Match Group Stock Performance

Shares of Match Group stock traded down $1.68 during trading on Wednesday, hitting $29.83. 12,483,421 shares of the company’s stock were exchanged, compared to its average volume of 5,704,684. The business has a 50-day simple moving average of $33.77 and a 200-day simple moving average of $34.34. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.51 and a beta of 1.43. Match Group has a 52-week low of $27.66 and a 52-week high of $49.24.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MTCH shares. JPMorgan Chase & Co. reduced their price objective on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. UBS Group upped their target price on Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. KeyCorp reduced their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday. Morgan Stanley downgraded Match Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. Finally, Citigroup increased their price target on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.82.

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.