Match Group (NASDAQ:MTCH) Price Target Cut to $70.00 by Analysts at Barclays

Match Group (NASDAQ:MTCH) had its price target reduced by Barclays from $88.00 to $70.00 in a research report sent to investors on Thursday morning, The Fly reports. Barclays currently has an equal weight rating on the technology company’s stock.

MTCH has been the subject of a number of other reports. Nomura raised Match Group from a neutral rating to a buy rating and boosted their price target for the stock from $81.00 to $88.00 in a report on Monday, October 7th. Citigroup started coverage on Match Group in a report on Tuesday, September 17th. They issued a buy rating and a $95.00 price target for the company. Cowen set a $104.00 price target on Match Group and gave the stock a buy rating in a report on Wednesday, August 7th. BidaskClub cut Match Group from a hold rating to a sell rating in a report on Wednesday. Finally, SunTrust Banks raised Match Group from a hold rating to a buy rating and boosted their price target for the stock from $90.00 to $106.00 in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $87.76.

Shares of MTCH stock traded down $0.62 during midday trading on Thursday, hitting $69.08. The company had a trading volume of 3,728,500 shares, compared to its average volume of 2,004,603. Match Group has a 52-week low of $33.30 and a 52-week high of $95.32. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 2.33 and a beta of 0.19. The company’s 50 day simple moving average is $73.50 and its 200 day simple moving average is $73.58. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.32 and a quick ratio of 1.32.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. Match Group had a return on equity of 166.69% and a net margin of 26.51%. The company had revenue of $541.50 million during the quarter, compared to analysts’ expectations of $540.73 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Analysts anticipate that Match Group will post 1.77 EPS for the current year.

In other Match Group news, insider Jared F. Sine sold 24,641 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $81.58, for a total transaction of $2,010,212.78. Following the completion of the sale, the insider now directly owns 39,649 shares in the company, valued at $3,234,565.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Philip D. Eigenmann sold 7,057 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $84.49, for a total value of $596,245.93. Following the sale, the chief accounting officer now owns 13,133 shares of the company’s stock, valued at $1,109,607.17. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Coastal Investment Advisors Inc. increased its stake in Match Group by 57.9% during the third quarter. Coastal Investment Advisors Inc. now owns 409 shares of the technology company’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in Match Group by 4.7% during the second quarter. Flagship Harbor Advisors LLC now owns 4,910 shares of the technology company’s stock worth $330,000 after acquiring an additional 222 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Match Group by 71.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 600 shares of the technology company’s stock worth $43,000 after acquiring an additional 250 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in Match Group by 8.8% during the third quarter. SeaCrest Wealth Management LLC now owns 4,171 shares of the technology company’s stock worth $298,000 after acquiring an additional 336 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in Match Group by 4.3% during the third quarter. Redhawk Wealth Advisors Inc. now owns 8,879 shares of the technology company’s stock worth $634,000 after acquiring an additional 368 shares during the last quarter. Institutional investors own 22.85% of the company’s stock.

Match Group Company Profile

Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.

See Also: Trading Strategy Examples and Plans

The Fly

Analyst Recommendations for Match Group (NASDAQ:MTCH)

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.