Match Group (NASDAQ:MTCH) Rating Increased to Buy at StockNews.com

Match Group (NASDAQ:MTCH) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other equities analysts also recently weighed in on the stock. UBS Group increased their price target on shares of Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. KeyCorp lifted their target price on Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Piper Sandler restated an “overweight” rating and set a $45.00 price target on shares of Match Group in a research note on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price objective on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Match Group presently has an average rating of “Moderate Buy” and an average target price of $43.07.

Match Group Stock Up 2.0 %

Shares of MTCH stock traded up $0.64 during mid-day trading on Thursday, hitting $31.93. 5,812,898 shares of the company’s stock were exchanged, compared to its average volume of 3,898,322. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.50 and a beta of 1.43. The stock has a 50-day simple moving average of $34.07 and a two-hundred day simple moving average of $34.45. Match Group has a fifty-two week low of $27.85 and a fifty-two week high of $49.24.

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

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently made changes to their positions in MTCH. Wellington Management Group LLP raised its holdings in shares of Match Group by 34.7% during the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after purchasing an additional 2,130,646 shares during the period. Ameriprise Financial Inc. lifted its holdings in Match Group by 5.2% in the third quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock worth $301,798,000 after acquiring an additional 377,745 shares during the last quarter. Boston Partners acquired a new position in Match Group in the third quarter valued at approximately $276,406,000. Invesco Ltd. grew its holdings in shares of Match Group by 4.0% during the third quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock valued at $158,176,000 after purchasing an additional 156,465 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Match Group by 14.2% during the third quarter. FMR LLC now owns 3,434,071 shares of the technology company’s stock valued at $134,530,000 after purchasing an additional 427,635 shares during the last quarter. 94.05% of the stock is currently 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.