$328.49 Million in Sales Expected for Match Group, Inc. (MTCH) This Quarter
Wall Street analysts predict that Match Group, Inc. (NASDAQ:MTCH) will post $328.49 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Match Group’s earnings. The highest sales estimate is $330.24 million and the lowest is $325.80 million. Match Group reported sales of $316.45 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Match Group will report full year sales of $328.49 million for the current financial year, with estimates ranging from $1.27 billion to $1.29 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.48 billion per share, with estimates ranging from $1.45 billion to $1.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Match Group.
Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The business had revenue of $309.57 million for the quarter, compared to analyst estimates of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS.
Several analysts have commented on the stock. Aegis boosted their target price on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of Match Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Citigroup Inc. boosted their target price on shares of Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets reissued a “buy” rating and issued a $21.00 target price on shares of Match Group in a research report on Wednesday, September 13th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $28.00 target price (up from $23.00) on shares of Match Group in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.19.
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Match Group (NASDAQ:MTCH) opened at 25.22 on Friday. The company’s 50 day moving average is $22.24 and its 200 day moving average is $19.19. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 35.87 and a beta of 0.56. Match Group has a 12-month low of $15.08 and a 12-month high of $25.52.
In related news, General Counsel Jared F. Sine sold 64,436 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the completion of the transaction, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Sam Yagan sold 684,583 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $21.95, for a total transaction of $15,026,596.85. Following the transaction, the insider now owns 464,963 shares of the company’s stock, valued at $10,205,937.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Mik Capital LLC acquired a new position in Match Group during the 2nd quarter valued at $23,043,000. Schwab Charles Investment Management Inc. raised its stake in Match Group by 9.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 103,464 shares of the technology company’s stock valued at $1,690,000 after purchasing an additional 9,357 shares during the last quarter. D L Carlson Investment Group Inc. raised its stake in Match Group by 14.9% during the 2nd quarter. D L Carlson Investment Group Inc. now owns 163,910 shares of the technology company’s stock valued at $2,849,000 after purchasing an additional 21,275 shares during the last quarter. Stifel Financial Corp raised its stake in Match Group by 23.5% during the 1st quarter. Stifel Financial Corp now owns 35,570 shares of the technology company’s stock valued at $580,000 after purchasing an additional 6,770 shares during the last quarter. Finally, Soros Fund Management LLC raised its stake in Match Group by 144.0% during the 1st quarter. Soros Fund Management LLC now owns 36,600 shares of the technology company’s stock valued at $598,000 after purchasing an additional 21,600 shares during the last quarter. Hedge funds and other institutional investors own 18.97% of the company’s stock.
Match Group Company Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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