UBS Group Lowers Match Group (NASDAQ:MTCH) Price Target to $38.00

Match Group (NASDAQ:MTCH) had its price target cut by research analysts at UBS Group from $43.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price points to a potential upside of 25.62% from the stock’s previous close.

A number of other brokerages have also commented on MTCH. Evercore ISI raised Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $35.00 price objective (down from $50.00) on shares of Match Group in a research note on Thursday. Wells Fargo & Company decreased their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $38.00 target price on shares of Match Group in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their target price on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.89.

Match Group Price Performance

Shares of Match Group stock traded down $0.86 on Friday, hitting $30.25. The company had a trading volume of 3,595,625 shares, compared to its average volume of 5,255,897. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The company has a market cap of $7.80 billion, a PE ratio of 13.50, a PEG ratio of 0.79 and a beta of 1.51. The business has a 50-day simple moving average of $36.95 and a 200-day simple moving average of $33.99.

Match Group (NASDAQ:MTCH) last released its earnings results on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. The business had revenue of $895.48 million for the quarter, compared to the consensus estimate of $900.33 million. On average, equities research analysts predict that Match Group will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Match Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MTCH. Janney Montgomery Scott LLC raised its stake in shares of Match Group by 2.7% in the first quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock worth $2,894,000 after acquiring an additional 2,083 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Match Group by 151.7% during the first quarter. GSA Capital Partners LLP now owns 22,854 shares of the technology company’s stock worth $829,000 after acquiring an additional 13,774 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Match Group by 3.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,113 shares of the technology company’s stock worth $2,036,000 after acquiring an additional 1,869 shares in the last quarter. Empirical Finance LLC grew its position in shares of Match Group by 4.9% in the 1st quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock valued at $254,000 after purchasing an additional 326 shares during the period. Finally, Forsta AP Fonden lifted its position in Match Group by 44.2% in the 1st quarter. Forsta AP Fonden now owns 171,900 shares of the technology company’s stock valued at $6,237,000 after acquiring an additional 52,700 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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.