Wolfe Research Begins Coverage on Match Group (NASDAQ:MTCH)

Wolfe Research assumed coverage on shares of Match Group (NASDAQ:MTCH) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $36.00 price target on the technology company’s stock.

Other analysts also recently issued reports about the company. Susquehanna decreased their target price on Match Group from $46.00 to $45.00 and set a positive rating for the company in a research report on Monday, May 13th. StockNews.com raised Match Group from a hold rating to a buy rating in a report on Monday, June 24th. UBS Group cut their price target on Match Group from $40.00 to $36.00 and set a neutral rating for the company in a report on Thursday, May 9th. Royal Bank of Canada cut their price target on Match Group from $43.00 to $33.00 and set an outperform rating for the company in a report on Thursday, May 9th. Finally, TD Cowen cut their price target on Match Group from $46.00 to $44.00 and set a buy rating for the company in a report on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $41.79.

Match Group Price Performance

NASDAQ:MTCH opened at $34.99 on Tuesday. The business has a fifty day simple moving average of $30.93 and a two-hundred day simple moving average of $33.63. Match Group has a 1 year low of $27.66 and a 1 year high of $49.24. The company has a market capitalization of $9.30 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.60 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The business had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts anticipate that Match Group will post 2.11 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

Several hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its stake in Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after purchasing an additional 326 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Match Group by 46.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock worth $42,000 after purchasing an additional 361 shares during the last quarter. Greenwich Wealth Management LLC lifted its stake in Match Group by 1.9% during the fourth quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company’s stock worth $700,000 after purchasing an additional 361 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Match Group by 23.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,152 shares of the technology company’s stock worth $79,000 after purchasing an additional 410 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Match Group by 0.6% during the fourth quarter. Arizona State Retirement System now owns 76,429 shares of the technology company’s stock worth $2,790,000 after purchasing an additional 459 shares during the last quarter. 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.