Zacks: Brokerages Expect Match Group, Inc. (NASDAQ:MTCH) Will Announce Quarterly Sales of $690.51 Million

Brokerages expect Match Group, Inc. (NASDAQ:MTCH) to post $690.51 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Match Group’s earnings, with the highest sales estimate coming in at $712.70 million and the lowest estimate coming in at $684.00 million. Match Group posted sales of $555.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.3%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, August 3rd.

According to Zacks, analysts expect that Match Group will report full year sales of $2.90 billion for the current financial year, with estimates ranging from $2.82 billion to $3.06 billion. For the next financial year, analysts expect that the business will report sales of $3.49 billion, with estimates ranging from $3.28 billion to $4.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Match Group.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, May 4th. The technology company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.18. Match Group had a negative return on equity of 39.56% and a net margin of 20.44%. The company had revenue of $667.61 million for the quarter, compared to analysts’ expectations of $650.74 million. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis.

Several equities research analysts have recently issued reports on MTCH shares. KeyCorp lifted their price target on Match Group from $165.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 6th. They noted that the move was a valuation call. Oppenheimer boosted their target price on Match Group from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. Royal Bank of Canada assumed coverage on Match Group in a report on Friday, July 9th. They issued an “outperform” rating and a $190.00 target price for the company. Zacks Investment Research raised Match Group from a “strong sell” rating to a “hold” rating and set a $151.00 price target on the stock in a research report on Tuesday, April 6th. Finally, BTIG Research raised Match Group from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Monday, April 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Match Group presently has a consensus rating of “Buy” and a consensus price target of $163.32.

Shares of Match Group stock traded up $0.74 during trading on Friday, hitting $160.44. 44,037 shares of the stock traded hands, compared to its average volume of 1,861,508. The company has a market capitalization of $43.36 billion, a PE ratio of 87.27, a P/E/G ratio of 6.86 and a beta of 1.13. Match Group has a twelve month low of $87.56 and a twelve month high of $174.68. The business’s fifty day moving average is $150.80.

In other Match Group news, Director Ann Mcdaniel sold 2,500 shares of the stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $138.82, for a total value of $347,050.00. Following the completion of the sale, the director now directly owns 10,169 shares in the company, valued at $1,411,660.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Philip D. Eigenmann sold 10,861 shares of the stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $146.21, for a total value of $1,587,986.81. Following the completion of the sale, the chief accounting officer now owns 10,861 shares of the company’s stock, valued at $1,587,986.81. The disclosure for this sale can be found here. Insiders have sold 18,386 shares of company stock worth $2,767,328 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Transform Wealth LLC grew its holdings in shares of Match Group by 11.5% during the second quarter. Transform Wealth LLC now owns 4,784 shares of the technology company’s stock worth $771,000 after buying an additional 494 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Match Group by 22.1% during the second quarter. Stratos Wealth Partners LTD. now owns 3,094 shares of the technology company’s stock worth $499,000 after buying an additional 559 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Match Group by 21.3% during the second quarter. IFM Investors Pty Ltd now owns 32,911 shares of the technology company’s stock worth $5,307,000 after buying an additional 5,789 shares in the last quarter. Teamwork Financial Advisors LLC bought a new position in shares of Match Group during the second quarter worth about $828,000. Finally, Junson Asset Management Hong Kong Ltd bought a new position in shares of Match Group during the second quarter worth about $4,918,000. Institutional investors own 96.08% of the company’s stock.

Match Group Company Profile

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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