UBS Group Cuts Match Group (NASDAQ:MTCH) Price Target to $36.00

Match Group (NASDAQ:MTCH) had its target price cut by investment analysts at UBS Group from $40.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price would indicate a potential upside of 17.72% from the company’s current price.

Several other equities analysts have also commented on the company. Royal Bank of Canada dropped their target price on Match Group from $43.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday. StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup upped their price target on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Match Group from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.11.

Match Group Stock Performance

Match Group stock traded up $0.76 during midday trading on Thursday, reaching $30.58. 6,999,121 shares of the company were exchanged, compared to its average volume of 5,814,429. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.51 and a beta of 1.43. The firm’s 50-day simple moving average is $33.77 and its 200-day simple moving average is $34.34. Match Group has a 1 year low of $27.66 and a 1 year high of $49.24.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $860.00 million during the quarter, compared to analyst estimates of $855.77 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, analysts forecast that Match Group will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Match Group

A number of hedge funds have recently bought and sold shares of MTCH. Commonwealth Equity Services LLC raised its holdings in Match Group by 6.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,678 shares of the technology company’s stock valued at $340,000 after acquiring an additional 530 shares in the last quarter. Raymond James & Associates lifted its position in shares of Match Group by 25.7% during the third quarter. Raymond James & Associates now owns 314,969 shares of the technology company’s stock worth $12,339,000 after purchasing an additional 64,334 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Match Group by 266.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,376 shares of the technology company’s stock worth $1,503,000 after purchasing an additional 27,916 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Match Group by 11.0% in the third quarter. Mackenzie Financial Corp now owns 11,726 shares of the technology company’s stock valued at $447,000 after buying an additional 1,159 shares during the last quarter. Finally, Strs Ohio bought a new stake in Match Group in the third quarter valued at about $2,546,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.