Match Group, Inc. (NASDAQ:MTCH) Expected to Post Quarterly Sales of $796.58 Million

Equities analysts predict that Match Group, Inc. (NASDAQ:MTCH – Get Rating) will report sales of $796.58 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Match Group’s earnings. The lowest sales estimate is $792.60 million and the highest is $800.34 million. Match Group reported sales of $667.61 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.3%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Match Group will report full-year sales of $3.52 billion for the current year, with estimates ranging from $3.49 billion to $3.55 billion. For the next financial year, analysts forecast that the firm will post sales of $4.16 billion, with estimates ranging from $4.08 billion to $4.27 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Match Group.

Match Group (NASDAQ:MTCH – Get Rating) last announced its quarterly earnings results on Tuesday, February 1st. The technology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($1.13). Match Group had a net margin of 9.31% and a negative return on equity of 69.07%. The firm had revenue of $806.70 million during the quarter, compared to analysts’ expectations of $821.16 million. During the same quarter in the prior year, the business earned $0.48 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year.

A number of analysts recently commented on the company. StockNews.com assumed coverage on Match Group in a research report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research upgraded Match Group from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Tuesday, March 8th. Truist Financial dropped their price objective on Match Group from $190.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. BTIG Research dropped their price objective on Match Group from $180.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. Finally, Cowen decreased their price target on Match Group from $186.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, January 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $145.13.

Match Group stock opened at $93.91 on Wednesday. The stock has a market cap of $26.78 billion, a PE ratio of 109.20, a P/E/G ratio of 1.78 and a beta of 1.02. The stock has a 50-day moving average price of $102.99 and a 200 day moving average price of $124.86. Match Group has a 52 week low of $84.20 and a 52 week high of $182.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its stake in shares of Match Group by 3.6% in the 3rd quarter. Advisory Services Network LLC now owns 2,030 shares of the technology company’s stock valued at $319,000 after purchasing an additional 71 shares in the last quarter. FourThought Financial LLC boosted its holdings in Match Group by 4.4% in the 3rd quarter. FourThought Financial LLC now owns 1,698 shares of the technology company’s stock worth $266,000 after acquiring an additional 72 shares during the period. PAX Financial Group LLC boosted its holdings in Match Group by 1.7% in the 4th quarter. PAX Financial Group LLC now owns 5,277 shares of the technology company’s stock worth $698,000 after acquiring an additional 87 shares during the period. Penserra Capital Management LLC boosted its holdings in Match Group by 10.9% in the 3rd quarter. Penserra Capital Management LLC now owns 916 shares of the technology company’s stock worth $143,000 after acquiring an additional 90 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in Match Group by 3.6% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,574 shares of the technology company’s stock worth $340,000 after acquiring an additional 90 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Match Group Company Profile (Get Rating)

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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