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

Match Group, Inc. (NASDAQ:MTCH) has earned an average rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $43.07.

A number of brokerages have recently issued reports on MTCH. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Citigroup lifted their target price on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. UBS Group boosted their price target on shares of Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Raymond James initiated coverage on shares of Match Group in a research report on Thursday, April 4th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st.

Match Group Price Performance

NASDAQ MTCH opened at $31.53 on Tuesday. Match Group has a 12 month low of $27.85 and a 12 month high of $49.24. The company has a market capitalization of $8.45 billion, a P/E ratio of 13.83, a PEG ratio of 0.51 and a beta of 1.41. The company’s 50 day simple moving average is $34.37 and its 200 day simple moving average is $34.53.

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

Institutional Investors Weigh In On Match Group

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