Lukewarm Earnings Report Extinguishes Match Stock

The equity has more than tripled off its mid-March trough, however

Digital Content Manager
Feb 3, 2021 at 9:33 AM
facebook twitter linkedin

Online dating name Match Group Inc (NASDAQ:MTCH) just announced its fourth-quarter results yesterday, posting earnings that fell in line with Wall Street's estimates, while revenue was only slightly above analysts' expectations. The lukewarm results have sparked some selling action this morning, and at last check MTCH is down 3.6% to trade at $144.70. 

Match stock looks set to snap its recent rally back toward its Jan. 13, all-time high of $159.85. And while today's pullback puts the security back below its 20-day moving average -- a trendline it briefly toppled yesterday -- MTCH has more than tripled off  its mid-March, two-year lows near the $44 level. Plus, the 100-day moving average, which has captured several pullbacks during the stock's climb higher, looks ready to serve as support.

Meanwhile, analysts are mostly optimistic toward the security, though there are still a few holdouts. Of the 15 in coverage, five say "hold," while the rest say "buy" or better. What's more, the 12-month consensus price target of $153.17 is a 4.4%  premium to last night's close. 

Though short sellers have slowly begun to hit the exits, there's still plenty of pent-up pessimism surrounding Match stock to unwind. The 12.19 million shares sold short make up 17.1% of the stock's available float, and would take over a week to cover at MTCH's average pace of daily trading. 


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners