Match Group (NASDAQ:MTCH) Price Target Lowered to $37.00 at The Goldman Sachs Group

Match Group (NASDAQ:MTCH) had its target price dropped by equities research analysts at The Goldman Sachs Group from $47.00 to $37.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 24.08% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $45.00 target price on shares of Match Group in a research report on Wednesday, March 27th. Raymond James initiated coverage on Match Group in a research note on Thursday, April 4th. They issued a “market perform” rating for the company. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $53.00 to $37.00 in a research note on Thursday, April 18th. Citigroup upped their target price on Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, UBS Group boosted their price target on shares of Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and a consensus target price of $42.48.

Match Group Stock Performance

Shares of MTCH opened at $29.82 on Thursday. The firm has a market cap of $7.99 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43. Match Group has a 52 week low of $27.66 and a 52 week high of $49.24. The firm’s 50-day simple moving average is $33.77 and its 200 day simple moving average is $34.34.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $860.00 million for the quarter, compared to the consensus estimate of $855.77 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, equities analysts forecast that Match Group will post 2.16 earnings per share for the current year.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently made changes to their positions in MTCH. Wellington Management Group LLP increased its stake in Match Group by 34.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after buying an additional 2,130,646 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Match Group by 5.2% during the third quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock worth $301,798,000 after purchasing an additional 377,745 shares during the period. Boston Partners purchased a new position in Match Group in the 3rd quarter valued at approximately $276,406,000. Edmond DE Rothschild Holding S.A. grew its position in shares of Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after purchasing an additional 943,894 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Match Group by 4.0% during the 3rd quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock valued at $158,176,000 after purchasing an additional 156,465 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.