Match Group, Inc. (NASDAQ:MTCH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Match Group, Inc. (NASDAQ:MTCH) have received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $42.43.

A number of brokerages have commented on MTCH. Wells Fargo & Company reduced their target price on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. JPMorgan Chase & Co. lowered their target price on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. KeyCorp reduced their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a research report on Wednesday, March 27th. Finally, Susquehanna reduced their target price on Match Group from $46.00 to $45.00 and set a “positive” rating on the stock in a research report on Monday, May 13th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cetera Advisors LLC purchased a new position in shares of Match Group during the 1st quarter valued at approximately $709,000. Cetera Investment Advisers raised its position in Match Group by 98.0% during the first quarter. Cetera Investment Advisers now owns 79,526 shares of the technology company’s stock worth $2,885,000 after acquiring an additional 39,357 shares during the period. PGGM Investments purchased a new position in Match Group during the first quarter valued at $274,000. Swedbank AB acquired a new stake in shares of Match Group in the first quarter valued at about $17,940,000. Finally, Strategic Wealth Partners Ltd. increased its stake in shares of Match Group by 51.1% during the first quarter. Strategic Wealth Partners Ltd. now owns 39,509 shares of the technology company’s stock worth $1,433,000 after purchasing an additional 13,360 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Price Performance

Shares of MTCH stock opened at $29.40 on Friday. The company’s 50-day simple moving average is $32.76 and its two-hundred day simple moving average is $34.11. The company has a market capitalization of $7.81 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.50 and a beta of 1.43. Match Group has a one year low of $27.66 and a one year high of $49.24.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The firm had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. On average, research analysts expect that Match Group will post 2.11 EPS for the current fiscal year.

Match Group Company Profile

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.