Barclays Lowers Match Group (NASDAQ:MTCH) Price Target to $53.00

Match Group (NASDAQ:MTCH) had its price objective dropped by Barclays from $55.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 73.43% from the company’s previous close.

Several other equities analysts have also commented on the company. Citigroup upped their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Hsbc Global Res raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price target on the stock in a research note on Monday, August 5th. StockNews.com raised shares of Match Group from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, TD Cowen boosted their target price on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.90.

Match Group Stock Down 1.8 %

NASDAQ MTCH opened at $30.56 on Friday. The business’s fifty day simple moving average is $36.70 and its 200-day simple moving average is $33.96. The firm has a market cap of $7.88 billion, a PE ratio of 13.64, a P/E/G ratio of 0.79 and a beta of 1.51. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42.

Match Group (NASDAQ:MTCH) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $895.48 million for the quarter, compared to analyst estimates of $900.33 million. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. Research analysts expect that Match Group will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Match Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock valued at $1,173,966,000 after buying an additional 416,140 shares during the last quarter. Pacer Advisors Inc. raised its stake in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after acquiring an additional 2,940,667 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after purchasing an additional 943,894 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Match Group during the second quarter worth approximately $100,848,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Match Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after purchasing an additional 12,379 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.