Match Group (NASDAQ:MTCH) Stock Rating Upgraded by Wells Fargo & Company

Match Group (NASDAQ:MTCH) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also commented on MTCH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a report on Thursday, January 22nd. Morgan Stanley set a $35.00 price objective on Match Group in a research note on Wednesday, February 4th. TD Cowen cut their target price on Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. UBS Group restated a “neutral” rating on shares of Match Group in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.64.

Match Group Trading Down 0.5%

Match Group stock traded down $0.17 during mid-day trading on Monday, hitting $32.53. The stock had a trading volume of 190,998 shares, compared to its average volume of 5,217,172. The stock has a market capitalization of $7.57 billion, a PE ratio of 13.63, a P/E/G ratio of 0.51 and a beta of 1.30. Match Group has a 12 month low of $26.80 and a 12 month high of $39.20. The stock has a 50-day simple moving average of $31.01 and a two-hundred day simple moving average of $32.23.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The business had revenue of $878.01 million for the quarter, compared to analyst estimates of $872.86 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts expect that Match Group will post 2.44 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 made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in Match Group during the 3rd quarter worth about $25,000. Root Financial Partners LLC bought a new stake in shares of Match Group in the third quarter valued at about $27,000. Activest Wealth Management lifted its holdings in shares of Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Match Group during the third quarter worth about $28,000. Finally, Rossby Financial LCC grew its holdings in shares of Match Group by 126.5% during the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after buying an additional 506 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.