SunTrust Robinson analyst Youssef Squali maintained a Hold rating on Match Group Inc (MTCH) yesterday and set a price target of $62. The company’s shares closed yesterday at $67.88, close to its 52-week high of $68.75.
Squali commented:
“We remain at Hold given the valuation at 10.5x for mid/high-teens top/bottom line growth. Solid Start to 2019. Match Group’s 1Q19 financial results were in line with Street expectations, reporting revenues/adj. EBITDA of $464.6M/$155.1M vs. consensus expectations of $463.7M/$154.4M and prior guidance of $445-465M/$150-155M, respectively. Management also noted, on a constant currency basis revenue would have grown 18% Y/Y vs. the 14% Y/Y reported, which was ~$3M higher than the company had anticipated. International revenue split for direct revenues was $238M/216M versus expectations of $233M/$217M, indicating the beat was driven by success within North America markets.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 23.3% and a 71.1% success rate. Squali covers the Technology sector, focusing on stocks such as Trade Desk Inc, Cardlytics Inc, and Eventbrite Inc.
Match Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $62.67, representing a -7.7% downside. In a report issued on May 7, Oppenheimer also assigned a Hold rating to the stock.
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Match Group Inc’s market cap is currently $18.9B and has a P/E ratio of 42.11. The company has a Price to Book ratio of 150.13.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.
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Match Group, Inc. engages in providing dating products. Its brands include: Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet, and LoveScout24. It operates through the following segments: Dating and Non-Dating. The Dating segment provides dating products.
