Match Group (NASDAQ:MTCH) Releases Earnings Results, Beats Estimates By $0.04 EPS

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

Match Group Trading Down 1.6 %

Match Group stock traded down $0.50 during trading hours on Friday, reaching $30.08. 448,056 shares of the stock were exchanged, compared to its average volume of 5,752,719. The stock has a 50 day moving average of $33.65 and a two-hundred day moving average of $34.31. The company has a market cap of $8.06 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43. Match Group has a twelve month low of $27.66 and a twelve month high of $49.24.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTCH. Wells Fargo & Company lowered their price target on Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday. Raymond James initiated coverage on Match Group in a report on Thursday, April 4th. They issued a “market perform” rating for the company. Morgan Stanley downgraded Match Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $53.00 to $37.00 in a report on Thursday, April 18th. JPMorgan Chase & Co. dropped their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, Citigroup boosted their price target on Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.11.

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.