Finding your MTCH on an exotic Royal Caribbean Cruises RCL destination sounds like every romantic's dream? Well, pre-COVID-19 it certainly was but what's in store for the latest additions to the EasyEquities platform.
A stock to watch, the Match Group owns and operates some of the most well-known online dating sites and has undoubtedly taken dating to the next level with brands like Tinder, Hinge and Match.com.
Click logo to view Match Group Inc. (MTCH) shares.
on EasyEquities
Fundamentals
Like most businesses, Match Group also expects its first-quarter results to come in at the low end of guidance ranges. The company also stated in a COVID-19 update that predicting the rest of the year now would be premature although it does expect growth year-over-year.
The company did say in a statement that "Existing users, particularly under age 30, are increasingly turning to our products to cope and connect." Online dating service, Tinder has seen conversations and length of discussions on the increase since the outbreak started.
Match Group Inc. (MTCH) share overview:
- Sector: Communication Services
- Market Cap of $18.45 Billion
- Dividend Yield: 0%
- Price/Earnings (LTM): 36.1x
- Next Earnings: May 5 2020
- 1Y Return: 12.39%
- 52 Week Range low of $47.35 and $92.45 per share high.
To neutralize the current lock down and social distancing environment, Match Group's dating app PlentyOfFish, the world’s largest global online dating app will partner Meet Group to provide a free live-streaming feature.
Dating apps are Big Business
This excerpt from Visual Capitalist’s article titled “The Rise of Online Dating, and the Company That Dominates the Market” says it all. “Today, nearly all major dating apps are owned by the Match Group, a publicly-traded pure play that was spun out of IAC, a conglomerate controlled by media mogul Barry Diller.”
Chart Life
The price action has seen wild swings due to the recent market volatility with the $46.33 per share support level as the level to watch if we see another leg lower. We would need to see a daily close above the $74.00 per share resistance level, coupled with positive sentiment to negate the current downturn.
Informed decisions
Match Group Inc.may not look like much now, but after the coronavirus pandemic passes, we might see them along with others return to their former glory. Match Group is already adapting to the current environment, which might just add to the pending rally to come.
Portfolio particulars
- Portfolio Neutral (Current)*
- Portfolio Buy opportunity: Neutral**
- WhatsTheBeef long term target price: Neutral.
Know your company: Match Group Inc. (MTCH)
- Match Group, Inc. is an American Internet company that owns and operates several online dating web sites including OkCupid, PlentyOfFish, Tinder, Hinge and Match.com.
- Match Group went public on November 19, 2015, and trades on NASDAQ with the ticker symbol MTCH.
- In August 2018, Tinder co-founder Sean Rad filed a $2 billion lawsuit against Match Group, claiming that Match Group and its parent company IAC purposely undervalued Tinder to avoid paying out stock options to the company's original team.
Click logo to view Match Group Inc. (MTCH) shares.
on EasyEquities
Don’t miss next weeks look at the other new addition to the EasyEquities platform Royal Caribbean Cruises (RCL) which might be another diamond after COVID-19.
Source – EasyEquities, Match Group Inc, Koyfin, Seeking Alpha, Wikipedia
READ:
How to use EasyFX to invest in US stocks
Follow Barry Dumas
@BEEF_FINMARKETS
Barry is a market analyst with GT247, with a wealth of experience in the investment markets. Now in his tenth year in the markets, Barry "The Beef" Dumas brings a combination of technical analysis and fundamental insights to the table.
