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

Match Group (NASDAQ:MTCH) had its target price dropped by Royal Bank of Canada from $43.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.20% from the stock’s previous close.

MTCH has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective on Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday. StockNews.com upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup raised their price objective on Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Match Group Trading Up 2.3 %

MTCH traded up $0.68 on Thursday, hitting $30.50. 3,280,027 shares of the company’s stock were exchanged, compared to its average volume of 5,771,709. The firm has a 50-day moving average price of $33.77 and a 200-day moving average price of $34.34. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.51 and a beta of 1.43. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $49.24.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. Match Group’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. On average, equities analysts predict that Match Group will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new stake in shares of Match Group in the first quarter valued at approximately $28,000. Principal Securities Inc. acquired a new position in Match Group in the 4th quarter valued at $31,000. Mather Group LLC. purchased a new position in Match Group during the first quarter worth about $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Match Group during the 1st quarter worth approximately $33,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in Match Group in the third quarter valued at $40,000. Hedge funds and other institutional investors 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.