Match Group (NASDAQ:MTCH – Get Rating) had its target price cut by investment analysts at Cowen from $128.00 to $100.00 in a report issued on Thursday, The Fly reports. The firm presently has an "outperform" rating on the technology company's stock. Cowen's price target would suggest a potential upside of 47.54% from the company's current price.
Several other research firms have also commented on MTCH. StockNews.com raised shares of Match Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 14th. JPMorgan Chase & Co. dropped their price objective on shares of Match Group from $125.00 to $105.00 in a research note on Tuesday, July 19th. Loop Capital started coverage on shares of Match Group in a research note on Monday, April 11th. They set a "buy" rating and a $140.00 price objective on the stock. Royal Bank of Canada dropped their price objective on shares of Match Group from $150.00 to $115.00 in a research note on Thursday, May 5th. Finally, Cowen dropped their price objective on shares of Match Group from $130.00 to $128.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.86.
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Match Group Trading Up 1.9 %
Shares of MTCH opened at $67.78 on Thursday. The firm's 50-day moving average price is $73.31 and its 200-day moving average price is $88.77. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of 211.82, a PEG ratio of 0.61 and a beta of 1.15. Match Group has a 1-year low of $59.15 and a 1-year high of $182.00.
Match Group (NASDAQ:MTCH – Get Rating) last announced its earnings results on Tuesday, May 3rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Match Group had a net
margin of 3.48% and a negative return on equity of 164.13%. The firm had revenue of $798.63 million for the quarter, compared to analyst estimates of $795.03 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts forecast that Match Group will post 2.63 EPS for the current fiscal year.
Insider Activity
In related news, CEO Bernard Jin Kim acquired 16,000 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was purchased at an average cost of $63.58 per share, with a total value of $1,017,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 16,000 shares of the company's stock, valued at $1,017,280. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in MTCH. MUFG Americas Holdings Corp purchased a new stake in Match Group during the fourth quarter valued at approximately $25,000. Tyler Stone Wealth Management purchased a new stake in Match Group during the fourth quarter valued at approximately $27,000. Tsfg LLC increased its holdings in Match Group by 181.1% during the first quarter. Tsfg LLC now owns 253 shares of the technology company's stock valued at $28,000 after buying an additional 163 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in Match Group during the first quarter valued at approximately $28,000. Finally, Prospera Financial Services Inc purchased a new stake in Match Group during the first quarter valued at approximately $29,000. 96.11% of the stock is owned by hedge funds and other institutional investors.
Match Group Company Profile
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Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.
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