Match Group (MTCH) Earns “Outperform” Rating from Wells Fargo & Co

Match Group (NASDAQ:MTCH)‘s stock had its “outperform” rating reissued by research analysts at Wells Fargo & Co in a research note issued to investors on Monday, January 8th, The Fly reports. They presently have a $38.00 target price on the technology company’s stock, up from their previous target price of $33.00. Wells Fargo & Co’s target price suggests a potential upside of 16.42% from the company’s current price.

MTCH has been the subject of a number of other reports. BidaskClub raised Match Group from a “buy” rating to a “strong-buy” rating in a report on Monday, December 25th. Guggenheim raised Match Group from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. UBS Group downgraded Match Group from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $28.00 to $35.00 in a report on Thursday, November 9th. Citigroup reaffirmed a “buy” rating and set a $35.00 price target on shares of Match Group in a report on Thursday, November 9th. Finally, Oppenheimer downgraded Match Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 9th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.77.

Match Group (NASDAQ:MTCH) traded up $0.34 during trading hours on Monday, reaching $32.64. The company had a trading volume of 876,800 shares, compared to its average volume of 1,214,300. The stock has a market capitalization of $8,915.52, a price-to-earnings ratio of 21.91, a PEG ratio of 3.02 and a beta of 0.76. Match Group has a 52-week low of $15.42 and a 52-week high of $33.08. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.92 and a current ratio of 0.92.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The company had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 31.18%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. equities analysts anticipate that Match Group will post 0.62 earnings per share for the current fiscal year.

In related news, Director Ann Mcdaniel sold 11,119 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $30.62, for a total value of $340,463.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 18.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC boosted its holdings in Match Group by 499.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after purchasing an additional 5,333 shares in the last quarter. Turner Investments LLC purchased a new stake in Match Group in the 3rd quarter valued at approximately $162,000. BNP Paribas Arbitrage SA boosted its holdings in Match Group by 162.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock valued at $163,000 after purchasing an additional 4,359 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Match Group by 40.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,354 shares of the technology company’s stock valued at $172,000 after purchasing an additional 2,129 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after purchasing an additional 519 shares in the last quarter. 20.97% of the stock is currently owned by institutional investors.

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Match Group Company Profile

Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.

The Fly

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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