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

Match Group (NASDAQ:MTCH) announced its quarterly earnings results on Tuesday. The technology company reported $0.44 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 firm had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. During the same period last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year.

Match Group Stock Performance

Shares of Match Group stock traded down $1.41 during midday trading on Wednesday, reaching $30.10. 13,027,526 shares of the company’s stock traded hands, compared to its average volume of 5,712,477. The company has a market cap of $8.07 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43. The stock has a 50 day moving average of $33.77 and a 200-day moving average of $34.34. Match Group has a 12 month low of $27.66 and a 12 month high of $49.24.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several recent analyst reports. Morgan Stanley lowered Match Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $53.00 to $37.00 in a report on Thursday, April 18th. KeyCorp decreased their price target on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com raised shares of Match Group from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price on shares of Match Group in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. cut their price objective on Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.82.

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.