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SunTrust's Bob Peck Previews Match Group's Q2 Earnings

SunTrust's Bob Peck Previews Match Group's Q2 Earnings - Apple Inc. NASDAQ:AAPL, MTCH

SunTrust's Robert "Bob" Peck said Match Group Inc MTCH 3.5% is likely to benefit from strong paid member count growth in the second quarter.

"Ahead of the 2Q earnings we believe 1) another ~220 million paid member counts (PMCs) added with a majority from Tinder," Peck wrote in a note.

Peck forecast year-over-year dating margin improving to mid-30s, while continued improvement of mobile conversion, versus desktop, is strengthening turnaround story of legacy sites.

Related Link: Interested In Microcaps? Here's One That Could Have The Next Tinder

That said, Peck expects FX headwinds impacting international revenues, which are primarily euro-denominated. Further, the analyst said the company could give commentary around impact of the new Apple Inc. AAPL 0.1% app store fee and Google (Alphabet Inc GOOG 0.01% GOOGL 0.18%)'s reported change.

"We reiterate our Buy rating and establish 2017 year-end PT of $18 from a 2016 year-end PT of $15," Peck added.

Match Group, a provider of dating products, will release its second quarter financials after July 26's market close.

At time of writing, Match Group shares rose 1.34 percent to $15.90.

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DateFirmActionFromTo
Jul 2016Longbow ResearchInitiates Coverage onBuy
Jun 2016Goldman SachsMaintainsBuy
May 2016UBSMaintainsBuy

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