Match Group (NASDAQ:MTCH) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a research note released on Monday morning.

MTCH has been the topic of a number of other reports. Susquehanna dropped their price objective 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. Raymond James started coverage on Match Group in a research note on Thursday, April 4th. They issued a market perform rating on the stock. Royal Bank of Canada dropped their price objective on Match Group from $43.00 to $33.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Morgan Stanley lowered Match Group from an overweight rating to an equal weight rating and dropped their price objective for the stock from $53.00 to $37.00 in a research note on Thursday, April 18th. Finally, Wells Fargo & Company dropped their price objective on Match Group from $31.00 to $30.00 and set an equal weight rating on the stock in a research note on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Match Group presently has an average rating of Moderate Buy and an average target price of $42.67.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $30.45 on Monday. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $49.24. The business has a 50-day moving average of $31.00 and a two-hundred day moving average of $33.99. The stock has a market capitalization of $8.09 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.51 and a beta of 1.46.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The company had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Match Group will post 2.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Match Group

Several large investors have recently modified their holdings of MTCH. YHB Investment Advisors Inc. bought a new stake in shares of Match Group in the 1st quarter valued at approximately $28,000. Principal Securities Inc. acquired a new position in shares of Match Group in the 4th quarter worth approximately $31,000. Mather Group LLC. acquired a new position in shares of Match Group in the 1st quarter worth approximately $33,000. Fidelis Capital Partners LLC acquired a new position in shares of Match Group in the 1st quarter worth approximately $33,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of Match Group in the 3rd quarter worth approximately $40,000. 94.05% of the stock is currently owned by 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.