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

Match Group (NASDAQ:MTCH) announced its earnings results on Tuesday. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 19.36% and a negative return on equity of 313.95%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS.

Match Group Trading Down 5.4 %

Shares of Match Group stock traded down $1.71 during trading hours on Wednesday, reaching $29.80. 11,799,206 shares of the company’s stock were exchanged, compared to its average volume of 5,694,606. The company has a 50 day moving average of $33.77 and a two-hundred day moving average of $34.34. The stock has a market cap of $7.99 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.51 and a beta of 1.43. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $49.24.

Analyst Ratings Changes

MTCH has been the topic of a number of research analyst reports. KeyCorp decreased their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday. UBS Group lifted their price target on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Citigroup raised their price objective on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $53.00 to $37.00 in a research note on Thursday, April 18th. Finally, Raymond James initiated coverage on shares of Match Group in a research report on Thursday, April 4th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Match Group 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.