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

Match Group (NASDAQ:MTCH) posted its quarterly earnings results 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. The firm had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. Match Group’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share.

Match Group Trading Up 1.7 %

NASDAQ:MTCH traded up $0.52 during mid-day trading on Thursday, hitting $30.34. 2,390,625 shares of the company’s stock traded hands, compared to its average volume of 5,760,284. The firm has a 50 day moving average of $33.77 and a two-hundred day moving average of $34.34. Match Group has a 12 month low of $27.66 and a 12 month high of $49.24. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley downgraded Match Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $53.00 to $37.00 in a research note on Thursday, April 18th. UBS Group boosted their target price on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered their target price on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Raymond James assumed coverage on Match Group in a research note on Thursday, April 4th. They issued a “market perform” rating on the stock. Finally, Citigroup boosted their target price on Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and an average target price of $42.12.

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.