Match Group (NASDAQ:MTCH) Issues Earnings Results

Match Group (NASDAQ:MTCH) issued its quarterly earnings data on Tuesday. The technology company reported $0.44 earnings per share 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 for the quarter, compared to analyst estimates of $855.77 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis.

Match Group Price Performance

MTCH stock traded down $1.68 during trading on Wednesday, reaching $29.83. 12,483,421 shares of the company were exchanged, compared to its average volume of 5,704,684. Match Group has a twelve month low of $27.66 and a twelve month high of $49.24. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.51 and a beta of 1.43. The company has a 50-day moving average of $33.77 and a two-hundred day moving average of $34.34.

Analyst Upgrades and Downgrades

MTCH has been the subject of several research reports. KeyCorp cut their price objective on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday. Morgan Stanley lowered Match Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $53.00 to $37.00 in a report on Thursday, April 18th. Raymond James began coverage on shares of Match Group in a research report on Thursday, April 4th. They issued a “market perform” rating for the company. UBS Group raised their price target on shares of Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a report on Wednesday, March 27th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.