Royal Bank of Canada Trims Match Group (NASDAQ:MTCH) Target Price to $33.00

Match Group (NASDAQ:MTCH) had its price objective dropped by investment analysts at Royal Bank of Canada from $43.00 to $33.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 8.20% from the stock’s current price.

MTCH has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lowered 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. Raymond James initiated coverage on Match Group in a report on Thursday, April 4th. They set a “market perform” rating for the company. The Goldman Sachs Group decreased their price objective on Match Group from $47.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group increased their target price on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Match Group has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Match Group Price Performance

Shares of NASDAQ MTCH traded up $0.68 during trading on Thursday, hitting $30.50. The stock had a trading volume of 3,280,027 shares, compared to its average volume of 5,771,709. Match Group has a 12 month low of $27.66 and a 12 month high of $49.24. The firm has a fifty day moving average of $33.77 and a two-hundred day moving average of $34.34. The company has a market capitalization of $8.17 billion, a PE ratio of 13.29, a PEG ratio of 0.51 and a beta of 1.43.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its position in Match Group by 6.5% during 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 during the last quarter. Raymond James & Associates lifted its stake in shares of Match Group by 25.7% in the 3rd 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 period. Raymond James Financial Services Advisors Inc. grew its position in Match Group by 266.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,376 shares of the technology company’s stock valued at $1,503,000 after buying an additional 27,916 shares during the period. Mackenzie Financial Corp increased its stake in shares of Match Group by 11.0% in the 3rd quarter. Mackenzie Financial Corp now owns 11,726 shares of the technology company’s stock worth $447,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Match Group in the third quarter worth about $2,546,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.