99.51 -0.88 (-0.88%)
After hours: 7:47PM EDT
|Bid||100.16 x 900|
|Ask||100.25 x 900|
|Day's Range||96.40 - 102.15|
|52 Week Range||44.74 - 108.45|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||171.90|
|Earnings Date||Aug 04, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Nov 10, 2015|
|1y Target Est||101.20|
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
The analysts covering Match Group, Inc. (NASDAQ:MTCH) delivered a dose of negativity to shareholders today, by making...
Investors are expecting to see more sales growth when the online dating specialist announces its next earnings update.
Investors were falling in love with Match Group (NASDAQ: MTCH) all over again in the first six months of the year as shares of the Tinder parent racked up a 12% gain, according to data from S&P Global Market Intelligence, even as the COVID-19 pandemic roiled the market. Match Group got off to a rough start in 2020. At the end of January, CEO Mandy Ginsberg said she would step down over health concerns and other personal issues.
The Zacks Analyst Blog Highlights: Amazon.com, Snap, Netflix, PayPal and Match Group
What happened Shares of Match Group (NASDAQ: MTCH) have fallen today, down by 6% as of 2:15 p.m. EDT, after the company completed its spinoff from IAC (NASDAQ: IAC). Previously a majority owner, IAC had announced the plans last fall.
Match Group Inc. announced the "successful completion" of its separation from IAC/InterActiveCorp. Wednesday morning and added four new members to its Board of Directors including actor Ryan Reynolds. "Most millennials and Gen Z can't remember what dating was like before the advent of Tinder, OkCupid and Hinge," Reynolds said in a release, adding that he would "roll up [his] sleeves and work with the team on their future growth and success." Match is also adding Stephen Bailey, Melissa Brenner, and Wendi Murdoch to its board. Bailey is the founder of Exec Online, a digital leadership development company, while Brenner is the executive Vice President for digital media at the National Basketball Association. Murdoch is the co-founder of Artsy, a digital platform for collectors. She is a former wife of Rupert Murdoch, chairman of News Corp., parent company of MarketWatch publisher Dow Jones. Match shares are down more than 8% in Wednesday trading. They've gained 57% over the past three months as the S&P 500 has risen 26%.
IAC and Match Group announced that they have completed a "full separation." Previously, Match Group (which owns Tinder, Hinge, OkCupid, PlentyOfFish and Match itself) was a publicly traded company, with digital holding company IAC as its majority shareholder. Last year, the companies announced a plan that would see IAC's ownership of Match distributed to IAC's shareholders — a plan that is complete as of this morning.
IAC/InterActive Corp. on Wednesday completed its spinoff of online dating and hookup service provider Match Group . Shares of Match Group at last check were down 2.9% to $102.96, while IAC was up 3.6% to $106.75. As a result of the separation, Match Group's dual-class voting structure has been eliminated.
Match Group (NASDAQ: MTCH) announced today that they have named four new Directors — Stephen Bailey, Melissa Brenner, Wendi Murdoch and Ryan Reynolds — to the Match Group Board. Match Group Directors Mark Stein and Gregg Winiarski have stepped down from the Board due to the separation from IAC.
IAC (NASDAQ: IAC) and Match Group (NASDAQ: MTCH) today announced the successful completion of the separation of Match Group from the remaining businesses of IAC. As a result of the separation, Match Group's dual class voting structure has been eliminated and the interest in Match Group formerly held by IAC is now held directly by IAC's shareholders. Starting today, "new" IAC will trade under the symbol "IAC" and "new" Match Group under the symbol "MTCH."
IAC (NASDAQ: IAC) ("IAC") and Match Group, Inc. (NASDAQ: MTCH) ("Match Group") today announced that at their respective stockholder meetings held today, IAC and Match Group stockholders voted to approve all proposals required to complete the separation of Match Group from the remaining businesses of IAC pursuant to the previously announced Transaction Agreement, dated as of December 19, 2019 and amended on April 28, 2020 and June 22, 2020 (the "Transaction Agreement"), by and among IAC, Match Group, IAC Holdings, Inc. ("New IAC"), and Valentine Merger Sub LLC, including a vote of a majority of the shares held by the disinterested stockholders of Match Group.
(Bloomberg Opinion) -- Cupertino, we have a problem.On Monday, Apple Inc. kicks off its Worldwide Developers Conference — a week-long annual event for the millions of programmers who create the apps that are enjoyed by roughly a billion iPhone users. It’s meant to be a platform for celebrating the tech giant’s developer community, but this year the backdrop is different — and not just because the conference is being held entirely online for the first time. This time around, the festivities arrive just as Apple faces fresh scrutiny about the fairness of its App Store policies. There is a rising chorus of criticism over Apple’s business practices and how the company treats its partners, and the company will have trouble sidestepping the debate.The issue came to the fore last Tuesday, when the European Union said it opened two formal antitrust investigations into Apple. One of the probes is centered around Apple’s requirements on when companies are required to use the App Store’s in-app purchase system, where it charges developers up to a 30% cut for digital content or services sold on its platform. Soon after that news hit, well-known Basecamp developer David Heinemeier Hansson accused Apple of a “shakedown” in rejecting the latest revision of his company’s Hey email app. After an initial approval, Apple later decided the Hey app didn’t deserve an exemption from using its in-app payment system, and thus would be required to use Apple’s billing service — and be subject to the fees that go with it — or face being kicked out of the app store.Hansson’s willingness to call out Apple publicly unleashed a tidal wave of similar negative commentary from other developers, who resent what they see as Apple’s arbitrary enforcement and seemingly haphazard rule set in its App Store Review Guidelines. Some complained Apple’s fee structure was way too high, while others wrote about their similar domineering treatment experiences going through Apple’s app approval process. As the anecdotes piled up throughout the week, many journalists and bloggers increasingly took the side of developers. Of course, it didn’t help that Apple had already granted exceptions to larger companies including Netflix Inc. and Amazon.com, Inc. under special category exemptions and negotiated deals.And it wasn’t only the developer community that was up in arms. Other larger technology companies and politicians felt compelled to weigh in amid the firestorm last week. Microsoft Corp. President Brad Smith said regulators should review Apple’s App Store practices, saying today’s digital mobile stores now had far “higher walls and far more formidable gates” against competition than when Microsoft’s Windows operating system did two decades ago during the company’s own antitrust battle. Further, Rhode Island Democratic Representative David Cicilline, the chairman of the House antitrust subcommittee, told The Verge the Apple App Store is “charging exorbitant rents — highway robbery, basically — bullying people to pay 30 percent or denying access to their market.”The truth is, Apple’s dominance over nearly half of the U.S. smartphone market and its more affluent customer base means every developer and company with an app simply needs to be on the iOS platform. And its power is such that it can materially harm potential competitors at a whim with anti-competitive business decisions. Antitrust laws are tailor-made for situations like this.Apple should accept this new reality and act accordingly. The company can defuse the situation by updating its policies to be more developer friendly. Many of its current guidelines were created under a drastically different circumstance more than a decade ago and need to be revamped. For example, Apple’s in-app payment system exemptions — from a business versus consumer service delineation to the exception for “reader apps” such as Netflix and Amazon’s Kindle — do not have much business logic behind them in today’s world. The fact that some developers are forced to give up nearly a third of their sales to Apple, while others can skate by without paying anything simply doesn’t seem fair.So, here are the four things Apple can do: Rewrite its App Store review guidelines with clear, concise and precise language for its requirements and terms. There is still too much confusion on what is allowed or not allowed under its current policy, making every app approval process a worrisome ordeal for developers. Make any in-app purchase system exemption that is offered to larger and powerful companies available to smaller developers as well. It’s a bad look to offer loopholes for Amazon, but not for the rest of the community. Consider a complete revamp of the entire fee business model. Online dating company Match Group, Inc. said in a statement last week it is unfair that the “digital services” app category is the only one that is forced to pay fees to Apple. The company noted apps that provide ride-sharing services and social-network apps that monetize through advertising don’t have to pay that same cut. Perhaps, if Apple can spread its fee take to a larger base of companies, it can then lower the overarching percentage. For example, the Epic Games Inc. Games Store charges a 12% fee on software sold on its platform, while also allowing developers the ability to use their own payments services for in-app purchases. Abandon certain blatantly anti-competitive restrictions — such as forbidding links and descriptions to external, potentially cheaper purchasing alternatives.The ability to offer more choice to consumers is the main request by the developers who are criticizing Apple’s policies. Hansson, the developer at the center of the last week’s debate, told me he and others like him want the ability to bill their own customers and direct potential customers to where they can buy a subscription. “Fundamentally, we want choice,” he wrote in an email. “It's plain, it's fair, and it's way over due.” European Union said last week it will look into Apple’s restrictions that keep developers from informing users of alternative purchasing avenues inside apps.Epic Games CEO Tim Sweeney also agrees app developers should not be forced to use Apple’s in-app payments system. Apple blocks competing payment providers from offering lower fees, Sweeney told me in an email. “iOS and Android should be level playing fields where all stores and service providers can compete freely, unhindered by anti-competitive tying of stores and services,” he wrote.Yes, acceding to some of these demands and concessions may hurt Apple’s finances on the margin. But the tech giant valued at nearly $1.5 trillion can afford it. Meanwhile, there is no doubt the antitrust regulatory freight train is coming down the track at full steam in both the U.S. and Europe. Apple should proactively offer fairer terms or risk cruder regulatory actions from governments that will likely be far worse. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
IAC (NASDAQ: IAC) ("IAC") and Match Group (NASDAQ: MTCH) ("Match") today announced that they have agreed to modify the treatment of fractional shares in the separation of IAC and Match (the "Separation") and have extended the deadline (the "Election Deadline") for stockholders of Match to elect the form of consideration they wish to receive in connection with the Separation until 5:00 p.m., New York City time, on June 25, 2020.
Apple’s App Store is under pressure as app developers file complaints about the company’s business practices. The developers claim the tech giant’s platform is anticompetitive, with Apple taking a 30% cut of all digital purchases.
(IAC) stock has rebounded from a March low set when volatility from the coronavirus pandemic roiled the market. IAC stock (ticker: IACI) sports a year-to-date net gain of 17.3% compared with a 3.3% drop in the S&P 500. Shares set a record high of $293.79 on Wednesday before closing at $292.32, more than double the March 23 intraday low of $124.60, a level that IAC stock last traded at in January 2018.
The Dow Jones rallied as stocks continued to recover from last week's intense sell-off. The rally was boosted by reports of a $1 trillion stimulus.
The Dow Jones Industrial Average continued to show oomph in the stock market today, buoyed by encouraging news that a generic steroid may prove vital in battling the coronavirus and a better than expected jump in May U.S. retail sales.
Match Group (MTCH) and social-networking platform Bumble have announced that they have reached an agreement to settle all litigation between the two companies.Additional details of the settlement are not being disclosed, but the companies did reveal that they are pleased with the amicable resolution.Back in 2018, Tinder-owner Match announced that it was suing Bumble for patent infringement and IP misuse related to its rival’s “card-swipe-based, mutual opt-in premise.”“Bumble has released at least two features that its co-founders learned of and developed confidentially while at Tinder in violation of confidentiality agreements” the company claimed.To this Bumble retorted: “We swipe left on your attempted scare tactics, and on these endless games. We swipe left on your assumption that a baseless lawsuit would intimidate us. Given your enduring interest in our company, we expected you to know us a bit better by now.”Shares in Match Group are trading up 6% year-to-date, and analysts have a cautiously optimistic Moderate Buy consensus on MTCH with 7 recent buy ratings and 6 holds.With an average analyst price target of $92, analysts see, on average, 5% upside potential from current levels. (See MTCH stock analysis on TipRanks).Morgan Stanley’s Brian Nowak recently initiated coverage of Match with a bullish buy rating and $103 price target. “We view MTCH as a must-own structural grower in early innings with dominant market share,” he wrote. “As singles crave human interaction in a post COVID world, we model accelerating 2021 sub growth.”He sees a long and growing runway for growth given demographic tailwinds and greater adoption of online dating, with 13% subscriber growth over the next five years.Related News: AT&T Mulls $4 Billion Sale Of Gaming Division- Report American Express Scores China Go-Ahead In Milestone Moment E-Signature Pioneer DocuSign To Join Nasdaq-100 Next Monday More recent articles from Smarter Analyst: * Credit Suisse To Buy Up To 35% Stake In Brazil’s Digital Bank Modalmais * UK Relaxes Rules On GWPH Cannabis Drug Epidyolex; Analysts Bullish On Stock’s Prospects * Nvidia, Mercedes Partner On Autonomous Vehicle Venture; A ‘Match Made In Auto Heaven’ Says Oppenheimer * Brazil Broker XP’s Assets Rise 13% Amid Market Volatility
Match Group (NASDAQ: MTCH) and Bumble today announced the two companies have reached an agreement to settle all litigations between the two companies. Additional details of the settlement are not being disclosed. Both companies are pleased with the amicable resolution.
IAC (NASDAQ: IAC) ("IAC") and Match Group (NASDAQ: MTCH) ("Match") today announced that the deadline (the "Election Deadline") for stockholders of Match to elect the form of consideration they wish to receive in connection with the separation of IAC and Match (the "Separation") is 5:00 p.m., New York City time, on June 18, 2020. The Election Deadline is based on IAC's and Match's expectation that IAC's annual meeting of stockholders and Match's special meeting of stockholders to approve matters relating to the proposed Separation will be held as scheduled on June 25, 2020.
It isn't hard to find love when there's no competition. Match Group Inc (NASDAQ: MTCH) is the only online dating service on the public markets, but last resort or not, it's found itself a mate.The Rating: Morgan Stanley analysts Lauren Cassel and Brian Nowak initiated coverage on Match with and Overweight rating and a $103 price target.The Thesis: Lockdown was a lonely experience for many single Americans. A lifting of their forced solitude may inspire a rush to the apps."We see a long and growing runway for growth given demographic tailwinds and greater adoption of online dating," the analysts wrote, citing a global addressable market of about 600 million with 3.5% compound annual growth.The coronavirus impetus compounds other favorable trends for dating apps, including a peak in the U.S. single population, an increase in young daters as a proportion of the single population, and the continued global penetration of internet and smartphone access.Overall, Morgan Stanley anticipates 13% subscriber growth over the next five years, with Match nearly doubling its global payer penetration driven by international subscriptions."We view MTCH as a must-own structural grower in early innings with dominant market share," Cassel and Nowak wrote. "As singles crave human interaction in a post COVID world, we model accelerating 2021 sub growth."MTCH Price Action: At the time of publication, Match traded down marginally around $89.Related Links:Study: More Harassment Seen In LGBT Online Dating9 Countries Using Online Dating The MostPhoto courtesy of Tinder.Latest Ratings for MTCH DateFirmActionFromTo Jun 2020Morgan StanleyInitiates Coverage OnOverweight May 2020CitigroupMaintainsBuy May 2020BMO CapitalMaintainsMarket Perform View More Analyst Ratings for MTCH View the Latest Analyst Ratings See more from Benzinga * BofA Upgrades Occidental, Downgrades Chevron * This 5M Malibu Property Includes A Decked-Out Cabana And Recording Studio * 6 Slack Analysts On Q1 Results, Billing Numbers, Microsoft Competition: 'An Unexpected Dichotomy'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
IAC/InterActiveCorp. announced Tuesday that it had reached an agreement to sell shares of its Class M common stock to third-party investors as part of a registered direct placement in conjunction with the pending separation of Match Group Inc. and IAC. If the companies complete the separation, the Class M common stock will be renamed "common stock" of the new Match Group and there will be a single class of Match's common stock, with one share corresponding to one vote. The transaction expected to bring in proceeds of about $1.4 billion, which will be transferred to the new IAC. The agreements announced in the release cover the sale of about 17 million Class M shares at a price of $82, which IAC said is "the equivalent of $85.00 per share, adjusted for the $3.00 per share merger consideration payable to Match shareholders in the Separation transaction (to which the purchasers of the Class M shares will not be entitled)." IAC and Match stockholders will be asked to give their approvals for the separation at meetings that are currently scheduled for June 25. IAC shares and Match shares are both near flat in Tuesday's session. IAC's stock has gained 20% over the past month as Match's had risen 12%. The S&P 500 is up 9% in that time.