Match Group (NASDAQ:MTCH) Price Target Cut to $53.00 by Analysts at Barclays

Match Group (NASDAQ:MTCH) had its price objective lowered by investment analysts at Barclays from $55.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 75.15% from the company’s previous close.

MTCH has been the subject of several other research reports. StockNews.com upgraded Match Group from a “hold” rating to a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $38.00 price objective on shares of Match Group in a research report on Wednesday, July 31st. Wolfe Research started coverage on Match Group in a research report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and an average target price of $40.90.

Match Group Stock Down 2.7 %

Shares of NASDAQ MTCH traded down $0.85 during midday trading on Friday, reaching $30.26. 4,681,652 shares of the stock were exchanged, compared to its average volume of 5,260,902. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.79 and a beta of 1.51. The firm has a 50-day simple moving average of $36.95 and a two-hundred 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.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $895.48 million for the quarter, compared to analyst estimates of $900.33 million. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. Research analysts expect that Match Group will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in Match Group in the second quarter valued at $100,848,000. Pacer Advisors Inc. raised its holdings in Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after buying an additional 2,940,667 shares during the period. Marshall Wace LLP purchased a new stake in Match Group in the 2nd quarter valued at about $49,053,000. Capitolis Liquid Global Markets LLC lifted its position in Match Group by 668.9% in the first quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock valued at $47,309,000 after buying an additional 1,134,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Match Group by 75.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after buying an additional 977,090 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.