Match Group (NASDAQ:MTCH) Price Target Increased to $47.00 by Analysts at Royal Bank of Canada

Match Group (NASDAQ:MTCH) had its price target lifted by Royal Bank of Canada from $33.00 to $47.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. KeyCorp cut their price target on Match Group from $50.00 to $46.00 and set an overweight rating on the stock in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $38.00 price target on shares of Match Group in a research report on Wednesday. StockNews.com lowered shares of Match Group from a buy rating to a hold rating in a research report on Thursday, July 25th. The Goldman Sachs Group reduced their target price on Match Group from $47.00 to $37.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, Susquehanna dropped their price target on Match Group from $46.00 to $45.00 and set a positive rating on the stock in a research note on Monday, May 13th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Match Group presently has an average rating of Moderate Buy and a consensus price target of $43.22.

Match Group Trading Down 2.4 %

Shares of MTCH traded down $0.90 during trading hours on Thursday, reaching $36.67. 5,747,340 shares of the company traded hands, compared to its average volume of 5,777,387. The stock’s fifty day moving average price is $31.70 and its 200 day moving average price is $33.45. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 0.65 and a beta of 1.48. Match Group has a 12-month low of $27.66 and a 12-month high of $47.81.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, July 30th. The technology company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $864.07 million for the quarter, compared to analyst estimates of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 457.93%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. On average, research analysts forecast that Match Group will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

A number of large investors have recently modified their holdings of the business. YHB Investment Advisors Inc. purchased a new position in Match Group in the 1st quarter worth approximately $28,000. Principal Securities Inc. purchased a new stake in Match Group in the 4th quarter valued at $31,000. Mather Group LLC. acquired a new stake in shares of Match Group in the 1st quarter worth $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Match Group during the 1st quarter worth $33,000. Finally, GAMMA Investing LLC acquired a new position in shares of Match Group during the 4th quarter valued at about $55,000. 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.