Match Group, a provider of dating products, released its Q4 earnings report on February 1, 2023, indicating revenue of $786.15 million, a decline of 2.5% from the same period the previous year. Match Group generated an EPS of $0.30, missing the consensus estimate of $0.47. Analysts project an EPS of 2.1 for the current fiscal year. Several research analysts have recently commented on Match Group, with eight hold ratings and sixteen buy ratings for the company, giving it an average rating of “Moderate Buy” and a consensus price target of $72.33. The most important keywords from this content include Match Group, MTCH, earnings, analysts, and dating products.
DNB Asset Management AS recently filed its 13F, reporting a 0.9% decrease in its holdings of Match Group, Inc. (NASDAQ: MTCH). The asset management firm sold 369 shares of the company during the fourth quarter.
Other institutional investors also made changes to their stakes in Match Group in the first quarter of this year. Acadian Asset Management LLC increased its stake in the company by 73.8%, bringing its total number of shares to 2,082, valued at $224,000. Dimensional Fund Advisors LP, on the other hand, boosted its stake by 3.3% and now holds 840,248 shares of MTCH valued at $91,374,000. Meanwhile, Aviva PLC increased its stake by 4.0%, holding 90,746 shares worth $9,868,000.
Additionally, Prudential PLC bought a new stake in the first quarter, valued at $279,000. Lastly, Vanguard Group Inc. added 500,418 shares of the company, increasing its stake by 1.7%. The total number of shares held by the investment management company is now 29,160,856 with a value of $3,170,951,000.
Overall, institutional investors own 93.53% of the Match Group stock.
According to a recent Securities and Exchange Commission filing, insider Jared F. Sine sold 7,110 shares of Match Group stock in early March. The shares were sold at an average price of $41.27, bringing the total transaction value to $293,429.70. After the sale, Sine’s remaining shares in the company totaled 60,379, valued at $2,491,841.33.
Match Group Stock Performance
On Friday, MTCH stock opened at $40.20. The company has a 50-day moving average of $44.09 and a 200-day moving average of $45.80. With a market cap of $11.23 billion, the company has a P/E ratio of 32.68 and a P/E/G ratio of 0.67. Its beta is 1.34. Over the past year, the company’s shares have ranged from a low of $34.62 to a high of $114.36.
Match Group Reports Q4 Earnings
Match Group, Inc. (NASDAQ:MTCH – Get Rating) released its Q4 earnings results on February 1, 2023. The technology company reported earnings per share (EPS) of $0.30 for the quarter, missing the consensus estimate of $0.47 by ($0.17). During the same quarter in the previous year, Match Group had an EPS of ($0.60). The company generated revenue of $786.15 million during the quarter, slightly below analysts’ expectations of $787.34 million. This represents a 2.5% decline in revenue compared to the same quarter last year. The net margin for Match Group was 11.35% and the company had a negative return on equity of 146.76%. For the current fiscal year, analysts are projecting earnings per share of 2.1.
Analysts Comment on Match Group
Several research analysts have recently commented on Match Group. New Street Research initiated coverage on the company and issued a “buy” rating with a $54.00 price objective. Jefferies Financial Group upgraded Match Group from a “hold” rating to a “buy” rating and raised their target price from $60.00 to $65.00. Needham & Company LLC also initiated coverage on Match Group and gave the stock a “buy” rating. UBS Group initiated coverage with a “neutral” rating and a $46.00 target price. Cowen lowered its target price on the stock from $80.00 to $74.00 and gave it an “outperform” rating. Overall, there are eight hold ratings and sixteen buy ratings for the company, giving Match Group an average rating of “Moderate Buy” and a consensus price target of $72.33, according to MarketBeat.com.
Match Group Profile
Match Group is a provider of dating products, operating under the brand names Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded in 2009 and is headquartered in Dallas, Texas.
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