Match Group (NASDAQ:MTCH) Issues Earnings Results

Match Group (NASDAQ:MTCH) released its quarterly earnings data on Monday. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02, FiscalAI reports. The firm had revenue of $891.23 million for the quarter, compared to analysts’ expectations of $892.45 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%.

Match Group Stock Performance

Shares of NASDAQ MTCH traded up $0.66 during midday trading on Monday, hitting $42.07. 4,684,840 shares of the company traded hands, compared to its average volume of 3,994,465. Match Group has a 12-month low of $28.81 and a 12-month high of $46.67. The stock has a 50-day moving average price of $42.25 and a 200 day moving average price of $36.49. The firm has a market cap of $9.66 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.62 and a beta of 1.43.

Analyst Ratings Changes

MTCH has been the subject of a number of analyst reports. Evercore upgraded shares of Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Monday, October 19th. Truist Financial boosted their price target on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research cut Match Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. began coverage on Match Group in a research note on Monday, August 24th. They set a “neutral” rating and a $43.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.23.

Insider Activity at Match Group

In other Match Group news, CAO Philip D. Eigenmann sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $41.70, for a total transaction of $625,500.00. Following the transaction, the chief accounting officer owned 19,389 shares in the company, valued at approximately $808,521.30. This represents a 43.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn Schiffman bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average cost of $36.63 per share, with a total value of $109,890.00. Following the transaction, the director directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. This represents a 5.62% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 23,291 shares of company stock valued at $976,478. 0.71% of the stock is currently owned by corporate insiders.

Match Group News Roundup

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Tinder returned to user growth. Tinder’s U.S. daily active users returned to year-over-year growth in October, following a similar milestone in September after more than three years of declines. The recovery is an important indicator that product improvements and the company’s turnaround strategy may be working. Reuters article
• Positive Sentiment: Hinge posted double-digit growth. Match Group said Hinge delivered double-digit year-over-year growth in users, revenue and payers, helping diversify growth beyond Tinder. Match Group third-quarter results
• Positive Sentiment: Quarterly earnings exceeded estimates. Match Group reported third-quarter adjusted earnings of $0.73 per share, ahead of the $0.71 analyst consensus. The company also reported a 20.17% net margin, supporting the investment case for continued profitability. Match Group earnings release
• Neutral Sentiment: Match is increasing its focus on artificial intelligence. Management is expanding AI efforts and emphasizing improved user experiences, which could support engagement and monetization but will require execution before producing measurable financial benefits. Reuters article
• Negative Sentiment: Revenue slightly missed expectations. Third-quarter revenue was $891.23 million, versus the $892.45 million consensus estimate. The modest shortfall could limit enthusiasm if the Tinder recovery does not translate into stronger monetization. Match Group earnings release

Match Group Company Profile

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.