Match Group Inc. shares reached a 52-week high of $41.43 on Monday, extending a nearly 10% weekly gain after the company reported second-quarter results that topped adjusted earnings estimates.
The parent of dating platforms including Tinder and Hinge posted adjusted earnings per share of $0.70, exceeding the $0.65 forecast by analysts. Revenue totaled $853 million, narrowly below the expected $857.25 million. Adjusted EBITDA rose 14% year-over-year to $331 million.
The stock has gained 32% over the past six months and 10.87% over the past year. Susquehanna maintained a Positive rating with a $45 price target, citing alignment with expectations. JPMorgan initiated coverage with a Neutral rating and a $43 target.
The company’s turnaround strategy remains a key focus as it navigates competitive pressures in the online dating sector. InvestingPro, a market analysis platform, listed Match Group as undervalued at current levels, offering eight additional exclusive insights to subscribers.
