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

Match Group (NASDAQ:MTCH) announced its quarterly earnings data on Tuesday. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04, Briefing.com reports. The firm had revenue of $860.00 million for the quarter, compared to the consensus estimate 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 was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share.

Match Group Trading Down 4.5 %

Shares of MTCH traded down $1.41 during mid-day trading on Wednesday, hitting $30.10. 13,027,526 shares of the company traded hands, compared to its average volume of 5,712,477. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.51 and a beta of 1.43. The business has a 50-day moving average of $33.77 and a 200 day moving average of $34.34. Match Group has a one year low of $27.66 and a one year high of $49.24.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Match Group in a research note on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. KeyCorp dropped their price objective on Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $53.00 to $37.00 in a research note on Thursday, April 18th. Finally, Raymond James started coverage on Match Group in a report on Thursday, April 4th. They issued a “market perform” rating for the company. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.