Match Group, Inc. (NASDAQ:MTCH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Match Group, Inc. (NASDAQ:MTCH) have earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $42.34.

MTCH has been the topic of a number of recent analyst reports. TD Cowen upped their price target on Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial increased their price target on Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Finally, StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.

Match Group Stock Performance

Shares of Match Group stock opened at $37.79 on Tuesday. The company has a market capitalization of $9.75 billion, a PE ratio of 16.43, a P/E/G ratio of 0.75 and a beta of 1.51. The company has a 50-day simple moving average of $36.44 and a two-hundred day simple moving average of $33.57. Match Group has a one year low of $27.66 and a one year high of $42.42.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The firm had revenue of $864.07 million for the quarter, compared to the consensus estimate of $856.51 million. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Match Group will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently modified their holdings of MTCH. Creative Planning grew its holdings in Match Group by 35.1% during the third quarter. Creative Planning now owns 17,149 shares of the technology company’s stock worth $649,000 after acquiring an additional 4,460 shares during the period. CX Institutional acquired a new stake in shares of Match Group during the 3rd quarter worth approximately $215,000. Novare Capital Management LLC increased its holdings in shares of Match Group by 1.3% during the 3rd quarter. Novare Capital Management LLC now owns 226,922 shares of the technology company’s stock valued at $8,587,000 after purchasing an additional 2,995 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Match Group by 42.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 56,404 shares of the technology company’s stock valued at $2,134,000 after purchasing an additional 16,768 shares during the period. Finally, Burns Matteson Capital Management LLC purchased a new stake in Match Group during the third quarter worth $432,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.