What to Expect When Match Reports After the Close
Online dating sites operator Match is scheduled to release its second-quarter financial results after the markets close on Tuesday.
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Match Group Inc. (NASDAQ: MTCH) is scheduled to release its second-quarter financial results after the markets close on Tuesday. The consensus estimates are calling for $0.40 in earnings per share (EPS) and $488.96 million in revenue. The same period of last year reportedly had $0.41 in EPS and $421.2 million in revenue.
In the first quarter, average subscribers increased 16% to 8.6 million, up from 7.4 million in the prior-year quarter. At the same time, Tinder average subscribers were 4.7 million, increasing 384,000 sequentially and 1.3 million year over year.
Also at that time, average revenue per user was flat over the prior-year quarter. However, excluding foreign exchange effects, that average was $0.60, an increase of 4% over the same period of the previous year.
Excluding Tuesday’s move, Match had outperformed the broad markets, with its stock up about 67% year to date. In the past 52 weeks, the stock was up closer to 97%.
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A few analysts weighed in on Match ahead of the report:
- SunTrust Banks has a Buy rating.
- Cowen has a Buy rating with an $84 price target.
- BMO Capital Markets has a Market Perform rating and a $74 target.
- Barclays has an Equal Weight rating with a $66 target price.
- Goldman Sachs rates it as Neutral with a $66 price target.
Shares of Match traded up about 2% Tuesday, at $73.07 in a 52-week range of $33.30 to $79.30. The consensus price target is $69.65.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
