Deutsche Bank Boosts Match Group (MTCH) Price Target to $61.00

Match Group (NASDAQ:MTCH) had its target price hoisted by Deutsche Bank from $56.00 to $61.00 in a research note issued to investors on Monday morning, The Fly reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also commented on MTCH. BidaskClub raised shares of Match Group from a buy rating to a strong-buy rating in a report on Saturday, September 15th. UBS Group boosted their price target on shares of Match Group from $52.00 to $66.00 and gave the stock a buy rating in a report on Wednesday, September 26th. Jefferies Financial Group boosted their price target on shares of Match Group from $55.00 to $70.00 and gave the stock a buy rating in a report on Thursday, October 4th. Aegis boosted their price target on shares of Match Group from $55.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, September 12th. Finally, Nomura began coverage on shares of Match Group in a report on Thursday, October 11th. They issued a buy rating and a $66.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $50.01.

Shares of NASDAQ:MTCH traded up $0.79 during trading on Monday, hitting $43.51. 74,685 shares of the stock traded hands, compared to its average volume of 2,407,008. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 83.86, a price-to-earnings-growth ratio of 3.32 and a beta of 0.74. Match Group has a 52-week low of $27.59 and a 52-week high of $60.95.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $444.00 million during the quarter, compared to analyst estimates of $438.03 million. Match Group had a net margin of 21.24% and a return on equity of 64.07%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, sell-side analysts anticipate that Match Group will post 1.24 earnings per share for the current fiscal year.

In other Match Group news, General Counsel Jared F. Sine sold 27,343 shares of Match Group stock in a transaction on Monday, August 20th. The shares were sold at an average price of $48.51, for a total transaction of $1,326,408.93. Following the sale, the general counsel now owns 65,022 shares of the company’s stock, valued at approximately $3,154,217.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amanda Ginsberg sold 106,850 shares of Match Group stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the sale, the chief executive officer now directly owns 62,682 shares in the company, valued at approximately $3,094,610.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,000 shares of company stock worth $12,382,872. 7.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Match Group during the 3rd quarter worth $1,102,000. Thompson Siegel & Walmsley LLC acquired a new stake in Match Group during the 3rd quarter worth $116,000. Commonwealth Bank of Australia boosted its stake in Match Group by 155.6% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,300 shares of the technology company’s stock worth $133,000 after purchasing an additional 1,400 shares during the last quarter. Ffcm LLC boosted its stake in Match Group by 5.7% during the 3rd quarter. Ffcm LLC now owns 23,872 shares of the technology company’s stock worth $1,382,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Lincoln National Corp acquired a new stake in Match Group during the 3rd quarter worth $272,000. 21.68% of the stock is currently owned by institutional investors.

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.

Read More: What is dollar cost averaging (DCA)?

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.

Leave a Reply