Match Group (MTCH) PT Lowered to $62.00 at Aegis

Match Group (NASDAQ:MTCH) had its price target lowered by Aegis from $65.00 to $62.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the technology company’s stock. Aegis’ target price would suggest a potential upside of 45.17% from the stock’s previous close.

Several other research firms also recently weighed in on MTCH. BidaskClub downgraded Match Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Wells Fargo & Co reiterated a “hold” rating on shares of Match Group in a research report on Thursday. ValuEngine downgraded Match Group from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. Barclays lifted their target price on Match Group from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, August 9th. Finally, BMO Capital Markets lifted their target price on Match Group from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Match Group currently has an average rating of “Buy” and an average price target of $50.94.

NASDAQ MTCH opened at $42.71 on Friday. The firm has a market cap of $12.09 billion, a P/E ratio of 36.70, a P/E/G ratio of 2.77 and a beta of 0.74. 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 has a fifty-two week low of $27.59 and a fifty-two week high of $60.95.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, November 6th. The technology company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The company had revenue of $444.00 million for the quarter, compared to the consensus estimate of $438.03 million. Match Group had a return on equity of 64.07% and a net margin of 21.24%. Match Group’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities research analysts anticipate that Match Group will post 1.28 EPS for the current year.

In other news, CEO Amanda Ginsberg sold 106,850 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total value of $5,275,184.50. Following the transaction, the chief executive officer now directly owns 62,682 shares in the company, valued at $3,094,610.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jared F. Sine sold 27,343 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $48.51, for a total value of $1,326,408.93. Following the completion of the transaction, the general counsel now owns 65,022 shares in the company, valued at $3,154,217.22. The disclosure for this sale can be found here. Insiders sold 251,000 shares of company stock worth $12,382,872 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Match Group in the second quarter valued at about $111,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Match Group in the third quarter worth about $116,000. Commonwealth Bank of Australia lifted its position in shares of Match Group by 155.6% in the third quarter. Commonwealth Bank of Australia now owns 2,300 shares of the technology company’s stock worth $133,000 after buying an additional 1,400 shares in the last quarter. Financial Architects Inc lifted its position in shares of Match Group by 410.3% in the second quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock worth $141,000 after buying an additional 2,934 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Match Group in the second quarter worth about $150,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

About Match Group

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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