Match Group (NASDAQ:MTCH) Announces Earnings Results

Match Group (NASDAQ:MTCH) issued its earnings results on Tuesday. The technology company reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48, Briefing.com reports. Match Group had a net margin of 18.72% and a negative return on equity of 457.93%. The business had revenue of $864.07 million for the quarter, compared to analysts’ expectations of $856.51 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Match Group updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Match Group Trading Down 1.5 %

Shares of MTCH stock opened at $37.57 on Friday. Match Group has a 12-month low of $27.66 and a 12-month high of $49.24. The firm’s 50 day moving average is $31.70 and its 200 day moving average is $33.45. The stock has a market capitalization of $9.98 billion, a P/E ratio of 16.33, a P/E/G ratio of 0.65 and a beta of 1.48.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTCH. Wells Fargo & Company reduced their price target on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Stifel Nicolaus upped their target price on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday. Raymond James initiated coverage on shares of Match Group in a research report on Thursday, April 4th. They set a “market perform” rating for the company. Royal Bank of Canada upped their price objective on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $38.00 price target on shares of Match Group in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.22.

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.