Match Group (NASDAQ: MTCH) stock price outperformed top-rated companies in fiscal 2019. It stands among the best performers in internet stocks. MTCH share price grew 91% in the last year, driven by its sharp growth rate.
The company has been growing at a strong pace over the past couple of years. It has achieved several milestones in the last year.
Match Group stock price is currently trading around $80, down slightly from an all-time high of $95 that it had hit at the end of last year. The company is planning to spinoff IAC to fully focus on long-term growth strategies.
Growth Trends are Strong
Match Group is working on the business model of providing dating products through a portfolio of brands such as Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, along with other brands. The company offers these products via its App and website in more than 40 languages.
Its revenue growth trends indicate that the company has been successfully attracting users across the world. Its revenue grew 22% to $541 million in the latest quarter.
The dating company also experienced a double-digit increase in subscribers. Its average subscribers grew 19% to 9.6 million. On the other hand, its operating income rose 26% to $177 million from the year-ago period.
The company has also reported strong cash flows in the past couple of quarters. Its operating cash flow of $450 million in the past three quarters offers a lot of room for investment in growth opportunities.
Analysts Are Bullish on Match Group Stock Price
Analysts expect MTCH share price to cross $100 level in the coming days. Jefferies has set a buy rating with a $105 price target despite showing concerns over technical pressure on the stock. Cowen, on the other hand, provided a price target of $104. The company expects to generate $555 million in fourth quarter revenue. Overall, prospects are looking bright for further upside potential.