Match Group (NASDAQ:MTCH) Price Target Raised to $45.00

Match Group (NASDAQ:MTCH) had its target price upped by The Goldman Sachs Group from $39.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 24.52% from the stock’s current price.

A number of other brokerages have also recently issued reports on MTCH. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company dropped their price target 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. Susquehanna reduced their price objective on shares of Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a research note on Monday, May 13th. Truist Financial raised their target price on shares of Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Citigroup cut their price target on shares of Match Group from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.79.

Match Group Trading Down 5.2 %

MTCH stock traded down $2.00 during trading hours on Thursday, hitting $36.14. 4,276,816 shares of the stock traded hands, compared to its average volume of 5,743,396. The stock has a 50-day simple moving average of $31.53 and a 200 day simple moving average of $33.42. Match Group has a one year low of $27.66 and a one year high of $49.24. The company has a market cap of $9.60 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.57 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last released 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 the consensus estimate of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 457.93%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Analysts forecast that Match Group will post 2.11 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in shares of Match Group during the 1st quarter valued at about $28,000. Principal Securities Inc. bought a new position in Match Group during the fourth quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in Match Group in the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC bought a new stake in Match Group in the first quarter worth approximately $33,000. Finally, GAMMA Investing LLC bought a new stake in Match Group in the fourth quarter worth approximately $55,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.