Match Group (MTCH) Releases Earnings Results
Match Group (NASDAQ:MTCH) announced its earnings results on Tuesday. The technology company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.14), Bloomberg Earnings reports. The company had revenue of $379.00 million during the quarter, compared to the consensus estimate of $362.86 million. Match Group had a return on equity of 25.34% and a net margin of 26.31%. The company’s revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share.
Shares of Match Group (NASDAQ MTCH) opened at $36.03 on Thursday. Match Group has a 12 month low of $15.42 and a 12 month high of $36.84. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40. The company has a market cap of $9,840.00 and a P/E ratio of 24.02.
A number of equities research analysts recently weighed in on the stock. Vetr downgraded shares of Match Group from a “buy” rating to a “hold” rating and set a $37.10 price target for the company. in a research note on Thursday. Zacks Investment Research downgraded shares of Match Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Cowen reissued an “outperform” rating and set a $28.00 price target (up from $22.00) on shares of Match Group in a research note on Friday, October 13th. BMO Capital Markets reissued an “outperform” rating and set a $30.00 price target (up from $21.00) on shares of Match Group in a research note on Friday, October 13th. Finally, UBS Group downgraded shares of Match Group from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $28.00 to $35.00 in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Match Group has a consensus rating of “Buy” and an average target price of $34.01.
An institutional investor recently raised its position in Match Group stock. The Manufacturers Life Insurance Company raised its position in Match Group Inc (NASDAQ:MTCH) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,525 shares of the technology company’s stock after purchasing an additional 519 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Match Group were worth $131,000 as of its most recent filing with the SEC. 20.33% of the stock is currently owned by institutional investors.
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About Match Group
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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