Equities research analysts expect Match Group Inc (NASDAQ:MTCH) to announce sales of $488.63 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Match Group’s earnings. The lowest sales estimate is $485.00 million and the highest is $491.00 million. Match Group posted sales of $421.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 16%. The business is scheduled to report its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Match Group will report full year sales of $2.01 billion for the current financial year, with estimates ranging from $1.99 billion to $2.04 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.34 billion, with estimates ranging from $2.27 billion to $2.40 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Match Group.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.17. The firm had revenue of $464.60 million during the quarter, compared to the consensus estimate of $463.69 million. Match Group had a return on equity of 120.25% and a net margin of 27.90%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Match Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price target for the company in a research report on Wednesday, May 15th. Goldman Sachs Group upgraded Match Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $48.00 to $66.00 in a research report on Thursday, May 9th. BidaskClub upgraded Match Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 24th. BMO Capital Markets lifted their price target on Match Group to $75.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Finally, ValuEngine upgraded Match Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $63.26.
In related news, insider Philip D. Eigenmann sold 4,328 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $70.87, for a total value of $306,725.36. Following the completion of the sale, the insider now owns 10,506 shares in the company, valued at approximately $744,560.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mcdaniel sold 6,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $70.26, for a total value of $449,664.00. Following the completion of the sale, the director now owns 9,578 shares of the company’s stock, valued at approximately $672,950.28. The disclosure for this sale can be found here. Insiders sold a total of 130,607 shares of company stock valued at $9,034,034 in the last 90 days. 7.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in MTCH. Assetmark Inc. lifted its position in Match Group by 59.1% in the 1st quarter. Assetmark Inc. now owns 603 shares of the technology company’s stock worth $34,000 after buying an additional 224 shares during the last quarter. PRW Wealth Management LLC bought a new stake in Match Group in the fourth quarter valued at approximately $43,000. Neuburgh Advisers LLC bought a new stake in Match Group in the fourth quarter valued at approximately $82,000. Captrust Financial Advisors lifted its position in Match Group by 18.1% in the fourth quarter. Captrust Financial Advisors now owns 2,235 shares of the technology company’s stock valued at $96,000 after purchasing an additional 343 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in Match Group by 32.5% in the first quarter. Cornerstone Advisors Inc. now owns 1,774 shares of the technology company’s stock valued at $100,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 22.21% of the company’s stock.
Shares of MTCH opened at $71.78 on Thursday. The stock has a market cap of $20.18 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 2.64 and a beta of 0.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 11.10. Match Group has a 12-month low of $33.30 and a 12-month high of $75.28.
About Match Group
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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