Match Group, Inc. (NASDAQ:MTCH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Match Group, Inc. (NASDAQ:MTCH) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $43.07.

MTCH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced 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. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Raymond James started coverage on Match Group in a research report on Thursday, April 4th. They issued a “market perform” rating on the stock. Morgan Stanley cut Match Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $53.00 to $37.00 in a research note on Thursday, April 18th. Finally, KeyCorp raised their price target on shares of Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st.

Match Group Stock Performance

NASDAQ MTCH opened at $31.53 on Tuesday. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.51 and a beta of 1.41. The business has a 50 day simple moving average of $34.37 and a 200 day simple moving average of $34.53. Match Group has a 52-week low of $27.85 and a 52-week high of $49.24.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.32. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company had revenue of $866.00 million during the quarter, compared to the consensus estimate of $861.31 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Match Group will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners acquired a new stake in Match Group in the 3rd quarter valued at about $276,406,000. Norges Bank acquired a new position in Match Group during the fourth quarter worth approximately $112,903,000. Bank of Nova Scotia raised its stake in Match Group by 17,295.4% in the fourth quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock valued at $78,678,000 after buying an additional 2,143,240 shares during the period. Wellington Management Group LLP lifted its position in shares of Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after buying an additional 2,130,646 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Match Group during the 4th quarter worth approximately $47,613,000. Institutional investors own 94.05% of the company’s stock.

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.