Match Group stock has regained 100% of the value that it lost in April / May 2018, hitting $50 per share for the first time last week.
The value of MTCH initially fell around 20% when Facebook announced its entry into the online dating market, falling from $47.12 on 30th April to $34.58 on 2nd May.
It climbed back to around $43 in late May, before hitting a temporary plateau. After announcing a better-than-expected Q2, MTCH has now jumped over 20% and reached new heights.
Match Group share price (USD). Source: Google
The stock’s strong performance is attributable to continued revenue growth at Tinder, driven by 81% year-on-year subscriber growth and 33% ARPU growth.
Match’s Latin American-focused app Chispa has also enjoyed a successful launch, and acquisition Hinge is set for a major marketing push in the second half of the year.
Internal revenue estimates for Q3 have been placed at $430 to $440 million, with full year revenue predicted to fall between $1.68 and $1.72 billion.
Analyst Robert Martin says: “So if you’re wondering whether would you should be bullish on dating, MTCH stock suggests the answer is yes.”
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