Match Group’s (MTCH) Neutral Rating Reiterated at Bank of America

Match Group (NASDAQ:MTCH)‘s stock had its “neutral” rating restated by research analysts at Bank of America in a research note issued on Thursday, MarketBeat Ratings reports.

A number of other research firms have also issued reports on MTCH. Morgan Stanley lowered their price target on Match Group from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective on the stock in a research note on Monday, August 5th. Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI upgraded Match Group to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price target on shares of Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.58.

Match Group Stock Performance

MTCH stock traded down $6.33 during trading on Thursday, reaching $31.55. The company had a trading volume of 6,567,786 shares, compared to its average volume of 5,184,121. The firm has a 50-day simple moving average of $36.95 and a 200-day simple moving average of $33.99. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.51.

Match Group (NASDAQ:MTCH) last released its earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The business had revenue of $895.48 million for the quarter, compared to the consensus estimate of $900.33 million. Sell-side analysts expect that Match Group will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

A number of large investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. grew its position in Match Group by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after acquiring an additional 297 shares in the last quarter. Fulton Bank N.A. lifted its stake in Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock valued at $254,000 after buying an additional 326 shares during the period. Prestige Wealth Management Group LLC grew its holdings in shares of Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after purchasing an additional 357 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares during the period. 94.05% of the stock is currently owned by institutional investors.

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.