Goldman Sachs Group Begins Coverage on Match Group (NASDAQ:MTCH)

Goldman Sachs Group started coverage on shares of Match Group (NASDAQ:MTCH) in a report released on Wednesday, The Fly reports. The brokerage issued a neutral rating and a $86.00 price target on the technology company’s stock.

A number of other analysts have also weighed in on MTCH. Citigroup upped their price objective on shares of Match Group from $90.00 to $100.00 and gave the stock a buy rating in a research note on Friday, May 8th. Morgan Stanley started coverage on shares of Match Group in a research note on Tuesday, June 9th. They issued an overweight rating and a $103.00 price objective for the company. BidaskClub downgraded shares of Match Group from a buy rating to a hold rating in a report on Wednesday. Nomura Instinet boosted their target price on shares of Match Group from $84.00 to $100.00 and gave the stock a buy rating in a report on Thursday, May 7th. Finally, UBS Group boosted their target price on shares of Match Group from $86.00 to $94.00 and gave the stock a neutral rating in a report on Thursday, June 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $94.05.

NASDAQ:MTCH opened at $100.39 on Wednesday. Match Group has a 1-year low of $91.51 and a 1-year high of $108.45. The company has a 50-day moving average of $93.09 and a 200 day moving average of $79.60. The firm has a market cap of $8.19 billion, a PE ratio of 87.56, a price-to-earnings-growth ratio of 3.87 and a beta of 1.23. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.32 and a quick ratio of 3.32.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.19. Match Group had a net margin of 2.69% and a return on equity of 9.24%. The company had revenue of $544.60 million during the quarter, compared to analyst estimates of $545.02 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Sell-side analysts anticipate that Match Group will post 2.15 EPS for the current fiscal year.

In other news, CFO Gary Swidler sold 76,745 shares of Match Group stock in a transaction on Monday, May 18th. The shares were sold at an average price of $82.44, for a total transaction of $6,326,857.80. Following the completion of the sale, the chief financial officer now directly owns 345,148 shares in the company, valued at $28,454,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mcdaniel sold 9,000 shares of Match Group stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $85.97, for a total transaction of $773,730.00. Following the sale, the director now owns 8,332 shares of the company’s stock, valued at $716,302.04. The disclosure for this sale can be found here. Insiders have sold 107,102 shares of company stock valued at $8,853,507 over the last quarter. Insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec acquired a new position in Match Group during the first quarter valued at $542,000. APG Asset Management N.V. acquired a new position in Match Group during the first quarter valued at $2,021,000. Parametric Portfolio Associates LLC lifted its position in Match Group by 13.0% during the first quarter. Parametric Portfolio Associates LLC now owns 94,975 shares of the technology company’s stock valued at $6,272,000 after purchasing an additional 10,942 shares during the period. Lone Pine Capital LLC lifted its position in Match Group by 125.4% during the first quarter. Lone Pine Capital LLC now owns 6,845,734 shares of the technology company’s stock valued at $452,092,000 after purchasing an additional 3,808,603 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Match Group by 171.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 24,204 shares of the technology company’s stock valued at $1,598,000 after purchasing an additional 15,281 shares during the period. Institutional investors own 30.69% of the company’s stock.

Match Group Company Profile

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.

Read More: Initial Public Offering (IPO)

The Fly

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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