Can Match Keep the Rally Going in Q3?

Match Group Inc. (NASDAQ: MTCH) is scheduled to release its third-quarter financial results after the markets close on Tuesday. Consensus estimates call for $0.36 in earnings per share (EPS) and $436.65 million in revenue. The same period from last year reportedly had $0.19 in EPS and $343.4 million in revenue.

In the most recent quarter, total revenue grew 36% year over year to $421 million, driven by 27% average subscriber growth and 8% average revenue per user growth.

Tinder average subscribers were 3.8 million in the second quarter, an increase of 299,000 sequentially and 1.7 million from the same period last year.

Keep in mind that Match is still feeling the pressure from Facebook, which previously announced that it plans on getting into the dating game as well. Zuckerberg even said back in May that Facebook already connects people with their friends and family on its platform, so playing matchmaker is a natural progression.

Excluding Tuesday’s move, Match has vastly outperformed the broad markets, with the stock up about 90% in the past 52 weeks. In just 2018 alone, the stock is up just over 63%.

A few analysts weighed in on Match ahead of the report:

  • Deutsche Bank has a Buy rating and a $61 price target.
  • Nomura has a Buy rating with a $66 price target.
  • Jefferies has a Buy rating with a $70 target price.
  • UBS has a Buy rating with a $66 price target.
  • Aegis has a Buy rating and a $65 target price.

Shares of Match were last seen up 1.7% at $52.04, with a consensus analyst price target of $56.08 and a 52-week trading range of $26.68 to $60.95.