Stifel Nicolaus Lowers Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price target reduced by stock analysts at Stifel Nicolaus from $36.00 to $35.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 3.55% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Match Group in a report on Monday, December 9th. UBS Group cut their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Morgan Stanley boosted their price objective on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wells Fargo & Company cut their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Fifteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Match Group has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Price Performance

NASDAQ:MTCH opened at $33.80 on Thursday. Match Group has a one year low of $27.66 and a one year high of $38.84. The company’s 50-day simple moving average is $32.99 and its 200 day simple moving average is $34.66. The firm has a market capitalization of $8.49 billion, a P/E ratio of 15.09, a PEG ratio of 1.10 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. On average, equities research analysts expect that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Match Group

Institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its holdings in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Match Group during the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the third quarter worth $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC purchased a new position in Match Group during the third quarter valued at $87,000. Hedge funds and other 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.