Match Group (NASDAQ:MTCH) Price Target Raised to $46.00

Match Group (NASDAQ:MTCH) had its target price lifted by TD Cowen from $44.00 to $46.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms have also issued reports on MTCH. Wells Fargo & Company lowered their target price on Match Group from $31.00 to $30.00 and set an equal weight rating on the stock in a report on Thursday, May 9th. Citigroup dropped their target price 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. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $38.00 target price on shares of Match Group in a report on Wednesday. Susquehanna decreased their price target on shares of Match Group from $46.00 to $45.00 and set a positive rating on the stock in a research report on Monday, May 13th. Finally, The Goldman Sachs Group increased their price objective on Match Group from $39.00 to $45.00 and gave the company a buy rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $42.28.

Match Group Trading Down 2.4 %

Shares of NASDAQ:MTCH opened at $36.67 on Thursday. The company has a 50 day moving average of $31.84 and a 200-day moving average of $33.42. The firm has a market cap of $9.74 billion, a P/E ratio of 15.94, a P/E/G ratio of 0.64 and a beta of 1.48. Match Group has a twelve month low of $27.66 and a twelve month high of $47.81.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The firm had revenue of $864.07 million during the quarter, compared to the consensus estimate of $856.51 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Match Group will post 2.05 EPS for the current year.

Institutional Investors Weigh In On Match Group

A number of institutional investors have recently modified their holdings of MTCH. Vanguard Group Inc. grew its stake in Match Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock valued at $1,173,966,000 after purchasing an additional 416,140 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of Match Group by 30.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after buying an additional 943,894 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Match Group in the second quarter worth approximately $100,848,000. Norges Bank bought a new position in Match Group during the fourth quarter valued at approximately $112,903,000. Finally, Bank of New York Mellon Corp lifted its stake in Match Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after acquiring an additional 12,379 shares during the last quarter. 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.