Match Group, Inc. (NASDAQ:MTCH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Match Group, Inc. (NASDAQ:MTCH) have earned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $42.45.

A number of analysts have recently issued reports on MTCH shares. Royal Bank of Canada lowered their price target on Match Group from $43.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Match Group in a research report on Wednesday, March 27th. Morgan Stanley lowered their price objective on Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group reduced their target price on Match Group from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, KeyCorp lowered their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, May 6th.

Match Group Stock Performance

Shares of MTCH opened at $31.55 on Friday. The stock has a market capitalization of $8.38 billion, a PE ratio of 13.72, a P/E/G ratio of 0.51 and a beta of 1.49. The company’s fifty day moving average is $30.66 and its 200 day moving average is $33.70. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $49.24.

Match Group (NASDAQ:MTCH) last posted its quarterly 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 business had revenue of $860.00 million during the quarter, compared to analyst estimates of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, research analysts forecast that Match Group will post 2.11 earnings per share for the current year.

Institutional Trading of Match Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC grew its holdings in shares of Match Group by 13.0% during the third quarter. LPL Financial LLC now owns 112,237 shares of the technology company’s stock worth $4,397,000 after buying an additional 12,946 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Match Group during the 3rd quarter worth approximately $246,000. Lazard Asset Management LLC lifted its stake in shares of Match Group by 2,294.1% during the 3rd quarter. Lazard Asset Management LLC now owns 53,172 shares of the technology company’s stock worth $2,082,000 after buying an additional 50,951 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Match Group in the third quarter valued at approximately $601,000. Finally, Alps Advisors Inc. grew its stake in shares of Match Group by 10.5% in the third quarter. Alps Advisors Inc. now owns 15,762 shares of the technology company’s stock valued at $617,000 after acquiring an additional 1,504 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Company Profile

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.