Match Group’s (MTCH) “Outperform” Rating Reaffirmed at Macquarie

Macquarie restated their outperform rating on shares of Match Group (NASDAQ:MTCH) in a research note issued to investors on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has a $92.00 target price on the technology company’s stock, up from their prior target price of $74.00.

A number of other brokerages have also weighed in on MTCH. BidaskClub raised shares of Match Group from a hold rating to a buy rating in a research note on Friday, July 19th. Cowen set a $84.00 price objective on shares of Match Group and gave the stock a buy rating in a research note on Wednesday, July 31st. Barclays restated an equal weight rating and set a $88.00 price objective (up from $66.00) on shares of Match Group in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Match Group from $80.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Match Group from a hold rating to a buy rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Match Group presently has a consensus rating of Buy and a consensus price target of $86.91.

NASDAQ MTCH traded down $1.54 on Thursday, reaching $85.63. The company had a trading volume of 3,224,094 shares, compared to its average volume of 2,568,687. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 64.38, a price-to-earnings-growth ratio of 3.24 and a beta of 0.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 11.10. Match Group has a 1-year low of $33.30 and a 1-year high of $95.32. The stock’s fifty day moving average price is $73.72.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The firm had revenue of $498.00 million during the quarter, compared to analyst estimates of $489.16 million. Match Group had a net margin of 26.51% and a return on equity of 153.58%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. Research analysts anticipate that Match Group will post 1.84 earnings per share for the current year.

In other news, insider Philip D. Eigenmann sold 4,328 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $70.87, for a total transaction of $306,725.36. Following the completion of the transaction, the insider now directly owns 10,506 shares in the company, valued at approximately $744,560.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mcdaniel sold 6,400 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $70.26, for a total transaction of $449,664.00. Following the completion of the sale, the director now owns 9,578 shares of the company’s stock, valued at $672,950.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,607 shares of company stock valued at $9,034,034. Company insiders own 3.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Northern Oak Wealth Management Inc. acquired a new stake in Match Group in the 2nd quarter valued at about $42,000. NEXT Financial Group Inc lifted its stake in Match Group by 850.0% in the 2nd quarter. NEXT Financial Group Inc now owns 950 shares of the technology company’s stock valued at $64,000 after purchasing an additional 850 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Match Group in the 2nd quarter valued at about $67,000. Cornerstone Advisors Inc. lifted its stake in Match Group by 32.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,774 shares of the technology company’s stock valued at $100,000 after purchasing an additional 435 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in Match Group by 3,829.8% in the 1st quarter. Stephens Inc. AR now owns 1,847 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 22.11% of the company’s stock.

About Match Group

Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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