Can Match Group Inc. (MTCH) stock recover despite sales dropping?

The price of Match Group Inc. (NASDAQ:MTCH) shares last traded on Wall Street rose 5.67% to $30.77.

Based on available information, 28 analysts follow Match Group Inc. (NASDAQ:MTCH). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $60.00 and a low of $30.00, we find $40.00. Given the previous closing price of $29.12, this indicates a potential upside of 37.36 percent. MTCH stock price is now -17.77% away from the 50-day moving average and -22.89% away from the 200-day moving average. The market capitalization of the company currently stands at $8.36B.

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Among analysts, 9 rate the stock a hold while 16 rate it a buy. Brokers who have rated the stock have averaged $43.41 as their price target over the next twelve months.

With the price target of $52, BofA Securities recently initiated with Buy rating for Match Group Inc. (NASDAQ: MTCH).

In other news, Schiffman Glenn, Director bought 4,000 shares of the company’s stock on Nov 02. The stock was bought for $116,420 at an average price of $29.11. Upon completion of the transaction, the Director now directly owns 22,243 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 01, Chief Bus. Affairs & Leg. Off. Sine Jared F. sold 500 shares of the business’s stock. A total of $15,125 was realized by selling the stock at an average price of $30.25. This leaves the insider owning 30,685 shares of the company worth $0.94 million. Insiders disposed of 164,586 shares of company stock worth roughly $5.06 million over the past 1 year. A total of 0.53% of the company’s stock is owned by insiders.

A candlestick chart of Match Group Inc. (NASDAQ: MTCH) showed a price of $30.07 on Tuesday morning. During the past 12 months, Match Group Inc. has had a low of $27.85 and a high of $54.60. According to the stock market information, the enterprise value for the company is $11.04B, which is based on a 17.50 price-to-earnings ratio, a 0.67 price-to-earnings-growth ratio, and a beta of 1.10. The fifty day moving average price for MTCH is $37.42 and a two-hundred day moving average price translates $39.91 for the stock.

The latest earnings results from Match Group Inc. (NASDAQ: MTCH) was released for Sep, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.57, beating analysts’ expectations of $0.54 by 0.03. This compares to $0.43 EPS in the same period last year. The company reported revenue of $881.6 million for the quarter, compared to $809.55 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.9 percent. For the current quarter, analysts expect MTCH to generate $862.92M in revenue.

Match Group Inc.(MTCH) Company Profile

Match Group, Inc. provides dating products worldwide. The company’s portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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