Technical Analysis: Match Group Inc (NASDAQ:MTCH)

The shares of Match Group Inc (NASDAQ:MTCH) currently has mean rating of 2.00 while 6 analysts have recommended the shares as “BUY”, 4 recommended as “OUTPERFORM” and 4 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending June-16 is 293.27 million by 14 analysts. The means estimate of sales for the year ending Dec-16 is 1.22 billion by 14 analysts.

The mean price target for the shares of Match Group Inc (NASDAQ:MTCH) is at 15.71 while the highest price target suggested by the analysts is 18.00 and low price target is 11.00. The mean price target is calculated keeping in view the consensus of 14 brokerage firms.

The average estimate of EPS for the current fiscal quarter for Match Group Inc (NASDAQ:MTCH) stands at 0.15 while the EPS for the current year is fixed at 0.74 by 12 analysts.

The next one year’s EPS estimate is set at 0.96 by 12 analysts while a year ago the analysts suggested the company’s EPS at 0.74. The analysts also projected the company’s long-term growth at 15.93% for the upcoming five years.

In its latest quarter ended on 31^st March 2016, Match Group Inc (NASDAQ:MTCH) reported earnings of $0.11. The posted earnings topped the analyst’s consensus by $0.03 with the surprise factor of 37.50%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

On June 2, 2016 Match Group Inc (NASDAQ:MTCH) announced that it has hired Elie Seidman as Chief Executive Officer of OkCupid. Mr. Seidman has over 20 years of experience leading and building consumer tech companies, and previously co-founded high-growth startups, Oyster.com and Epana. Most recently, he served as Chief Revenue Officer at BorrowersFirst.

Mr. Seidman will be responsible for the further growth and expansion of OkCupid. With more than 1 billion matches made since the company’s launch, OkCupid is one of the leading, free online dating services. With Seidman’s announcement, the company also said that Michael Maxim, current CEO of OkCupid, will segue to the role of ongoing advisor.

“Since its inception in 2004, OkCupid has always had a strong brand and important voice in the dating category and I believe it will continue to be a key free-to-communicate product as the market evolves,” said Mandy Ginsberg CEO of Match Group North America. “Elie’s entrepreneurial acumen and extensive experience across product, marketing, and business development in the technology sector will be a tremendous asset to the OkCupid team.”

“OkCupid was built with genuine dedication to product excellence,” said Mr. Seidman. “Its unique and distinctive brand is a reflection of the wit, insight, and passion of a great team. I’m excited to work on a product that uses math and data to, quite literally, help people make the most important decision they’ll ever make.”