Match Group (MTCH) PT Raised to $70.00 at Jefferies Financial Group

Match Group (NASDAQ:MTCH) had its price objective lifted by Jefferies Financial Group from $55.00 to $70.00 in a research report sent to investors on Thursday, Marketbeat.com reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock. Jefferies Financial Group also issued estimates for Match Group’s Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.29 EPS, FY2019 earnings at $1.77 EPS and FY2020 earnings at $2.00 EPS.

Other equities research analysts have also issued research reports about the company. Aegis lifted their target price on Match Group from $55.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, September 12th. BidaskClub raised Match Group from a hold rating to a buy rating in a research report on Tuesday, August 28th. Deutsche Bank boosted their price target on Match Group from $50.00 to $56.00 and gave the stock a buy rating in a research report on Friday, August 17th. ValuEngine raised Match Group from a hold rating to a buy rating in a research report on Wednesday, August 8th. Finally, UBS Group boosted their price target on Match Group from $52.00 to $66.00 and gave the stock a buy rating in a research report on Wednesday, September 26th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Match Group presently has an average rating of Buy and an average target price of $47.13.

Shares of Match Group stock opened at $55.97 on Thursday. Match Group has a 52-week low of $24.40 and a 52-week high of $60.95. The company has a market capitalization of $16.03 billion, a P/E ratio of 107.63, a PEG ratio of 3.78 and a beta of 0.35. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. Match Group had a return on equity of 53.18% and a net margin of 32.94%. The business had revenue of $421.20 million for the quarter, compared to analyst estimates of $413.07 million. Research analysts forecast that Match Group will post 1.23 earnings per share for the current year.

In other news, CEO Amanda Ginsberg sold 11,196 shares of Match Group stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $48.78, for a total transaction of $546,140.88. Following the completion of the transaction, the chief executive officer now directly owns 19,349 shares in the company, valued at approximately $943,844.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gary Swidler sold 105,611 shares of Match Group stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $49.57, for a total value of $5,235,137.27. Following the transaction, the chief financial officer now owns 266,010 shares of the company’s stock, valued at $13,186,115.70. The disclosure for this sale can be found here. Insiders have sold a total of 251,000 shares of company stock worth $12,382,872 in the last ninety days. Insiders own 7.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MTCH. Northern Trust Corp boosted its stake in Match Group by 6.5% in the 2nd quarter. Northern Trust Corp now owns 657,697 shares of the technology company’s stock valued at $25,479,000 after purchasing an additional 40,284 shares during the period. Bank of New York Mellon Corp raised its holdings in Match Group by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 494,739 shares of the technology company’s stock valued at $19,166,000 after acquiring an additional 27,161 shares in the last quarter. California Public Employees Retirement System raised its holdings in Match Group by 89.3% in the 2nd quarter. California Public Employees Retirement System now owns 55,130 shares of the technology company’s stock valued at $2,136,000 after acquiring an additional 26,004 shares in the last quarter. Millennium Management LLC raised its holdings in Match Group by 519.2% in the 2nd quarter. Millennium Management LLC now owns 891,541 shares of the technology company’s stock valued at $34,538,000 after acquiring an additional 747,553 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Match Group by 48.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,336 shares in the last quarter. Institutional investors own 22.58% of the company’s stock.

Match Group Company Profile

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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