Match Group (NASDAQ:MTCH) Upgraded at StockNews.com

Match Group (NASDAQ:MTCH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada raised their price target on Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price target (down previously from $50.00) on shares of Match Group in a report on Thursday. Citigroup raised their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on Match Group in a research report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.19.

Match Group Stock Down 17.9 %

MTCH traded down $6.77 during trading on Thursday, reaching $31.11. 23,728,234 shares of the company were exchanged, compared to its average volume of 5,263,537. The company’s 50-day moving average is $36.95 and its two-hundred day moving average is $33.99. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.75 and a beta of 1.51. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $895.48 million for the quarter, compared to analysts’ expectations of $900.33 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. Equities analysts forecast that Match Group will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

Several hedge funds have recently made changes to their positions in MTCH. Venturi Wealth Management LLC boosted its position in shares of Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares in the last quarter. Quarry LP boosted its position in shares of Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after purchasing an additional 461 shares in the last quarter. Mather Group LLC. boosted its position in shares of Match Group by 87.6% during the second quarter. Mather Group LLC. now owns 1,700 shares of the technology company’s stock valued at $52,000 after purchasing an additional 794 shares in the last quarter. Sentry Investment Management LLC bought a new stake in shares of Match Group during the first quarter valued at approximately $57,000. Finally, International Assets Investment Management LLC bought a new stake in Match Group in the second quarter worth $61,000. 94.05% of the stock is currently owned by institutional investors.

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.