Match Group (NASDAQ:MTCH) posted its quarterly earnings results on Tuesday. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02, Bloomberg Earnings reports. The business had revenue of $498.00 million for the quarter, compared to analyst estimates of $489.16 million. Match Group had a return on equity of 120.25% and a net margin of 27.90%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS.
Shares of NASDAQ:MTCH traded up $2.50 on Tuesday, hitting $73.91. The company’s stock had a trading volume of 2,427,773 shares, compared to its average volume of 1,700,475. Match Group has a 12 month low of $33.30 and a 12 month high of $79.30. The firm has a market capitalization of $20.08 billion, a P/E ratio of 55.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.27. The company’s 50-day moving average price is $72.62. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 11.10.
MTCH has been the topic of several research reports. Zacks Investment Research raised Match Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, May 15th. Goldman Sachs Group raised Match Group from a “sell” rating to a “neutral” rating and increased their target price for the stock from $48.00 to $66.00 in a research report on Thursday, May 9th. BidaskClub raised Match Group from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Barclays increased their target price on Match Group from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Match Group in a research report on Monday. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $64.91.
Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Match Group by 57.8% during the second quarter. Jennison Associates LLC now owns 25,745 shares of the technology company’s stock valued at $1,732,000 after buying an additional 9,435 shares in the last quarter. Requisite Capital Management LLC boosted its stake in Match Group by 200.0% during the second quarter. Requisite Capital Management LLC now owns 3,000 shares of the technology company’s stock valued at $202,000 after buying an additional 2,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Match Group by 18.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 78,225 shares of the technology company’s stock valued at $5,262,000 after buying an additional 12,212 shares in the last quarter. GWM Advisors LLC bought a new position in Match Group during the second quarter valued at about $302,000. Finally, Institute for Wealth Management LLC. bought a new position in Match Group during the second quarter valued at about $219,000. 22.11% of the stock is owned by institutional investors.
Match Group Company Profile
Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.
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