Morgan Stanley Issues Pessimistic Forecast for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price target lowered by Morgan Stanley from $36.00 to $33.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other brokerages have also issued reports on MTCH. Bank of America restated a “neutral” rating and set a $35.00 price target (down from $50.00) on shares of Match Group in a research note on Thursday, November 7th. Susquehanna reduced their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price target on shares of Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reduced their price objective on shares of Match Group from $47.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Barclays lowered their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

Match Group Price Performance

NASDAQ MTCH opened at $30.71 on Tuesday. The company’s fifty day moving average is $36.26 and its two-hundred day moving average is $33.95. Match Group has a 52-week low of $27.66 and a 52-week high of $42.42. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.85 and a beta of 1.51.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Starboard Value LP bought a new stake in shares of Match Group during the third quarter worth $361,605,000. Assenagon Asset Management S.A. bought a new stake in Match Group during the 2nd quarter worth about $100,848,000. Pacer Advisors Inc. lifted its position in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the period. Marshall Wace LLP bought a new position in shares of Match Group in the 2nd quarter valued at about $49,053,000. Finally, Capitolis Liquid Global Markets LLC grew its position in shares of Match Group by 668.9% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock worth $47,309,000 after buying an additional 1,134,400 shares during the period. 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.