Bank of America Reaffirms “Neutral” Rating for Match Group (NASDAQ:MTCH)

Bank of America reiterated their neutral rating on shares of Match Group (NASDAQ:MTCH) in a report issued on Thursday morning, Marketbeat.com reports. Bank of America currently has a $35.00 price target on the technology company’s stock, down from their previous price target of $50.00.

Other equities research analysts also recently issued research reports about the stock. Hsbc Global Res upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Citigroup boosted their target price on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their target price on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Truist Financial boosted their target price on shares of Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Match Group has an average rating of “Moderate Buy” and an average price target of $40.90.

Match Group Price Performance

Shares of Match Group stock traded down $0.56 during midday trading on Thursday, hitting $30.55. The company had a trading volume of 10,133,630 shares, compared to its average volume of 5,286,026. The business’s 50 day simple moving average is $36.95 and its two-hundred day simple moving average is $33.99. The stock has a market cap of $7.88 billion, a PE ratio of 13.51, a P/E/G ratio of 0.79 and a beta of 1.51. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

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

Hedge Funds Weigh In On Match Group

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Match Group in the 2nd quarter valued at approximately $100,848,000. Pacer Advisors Inc. grew its position in shares of 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 purchasing an additional 2,940,667 shares during the period. Marshall Wace LLP acquired a new position in shares of Match Group in the 2nd quarter valued at approximately $49,053,000. Capitolis Liquid Global Markets LLC grew its position in shares of Match Group by 668.9% in the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock valued at $47,309,000 after purchasing an additional 1,134,400 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Match Group by 75.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after purchasing an additional 977,090 shares during the period. 94.05% of the stock is currently 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.