What happened
Shares of online dating company Match Group (MTCH) popped 11.9% in July, according to data from S&P Global Market Intelligence.
That's a lot more love than the S&P 500 got last month, as it edged up just 1.4%, including dividends.
Image source: Getty Images.
So what
We can attribute Match Group stock's strong July performance in part to a continuation of the upward momentum it's enjoyed for some time thanks to the company turning in robust earnings reports. Indeed, it's soundly beat Wall Street's earnings expectations in all four of its most recent quarterly reports.
That said, there was one notable specific catalyst: On July 18, the company received some positive comments from an analyst, causing its stock to jump 4.5%.
Data by YCharts.
The Macquarie Research analyst who covers the stock issued a note saying that Match appears to be testing ways for its Tinder app to go around Alphabet's (GOOGL 1.27%) Google Play on Android devices. Such a move has the potential to increase Match's revenue, as the company wouldn't have to give a cut to Google for app downloads on mobile devices.
Match stock isn't just a mere July market heartthrob, as it's up 73% in 2019 through Aug. 2.
Data by YCharts.
Now what
Investors don't have long to wait for material news. Match Group is slated to release its second-quarter results on Tuesday, Aug. 6, after the market close. Its earnings call with analysts is scheduled to follow the next day at 8:30 a.m. EDT.
Wall Street is looking for adjusted earnings of $0.40 per share on revenue of $489 million, representing a decline of 2.4% and growth of 16.1%, respectively, year over year.
