Match Group, Inc. (NASDAQ:MTCH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Match Group, Inc. (NASDAQ:MTCH) has been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $42.07.

Several brokerages have weighed in on MTCH. KeyCorp cut their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Wolfe Research initiated coverage on Match Group in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price target for the company. UBS Group dropped their price objective on Match Group from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Truist Financial upped their price objective on Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Susquehanna dropped their price objective on Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a report on Monday, May 13th.

Match Group Stock Down 2.8 %

Shares of MTCH stock opened at $35.66 on Thursday. The stock has a market capitalization of $9.47 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.48. Match Group has a 52-week low of $27.66 and a 52-week high of $47.81. The stock’s 50-day moving average price is $31.84 and its 200 day moving average price is $33.40.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $864.07 million for the quarter, compared to analyst estimates of $856.51 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. Analysts expect 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 have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its position in shares of Match Group by 24.5% in the first quarter. Lazard Asset Management LLC now owns 410,938 shares of the technology company’s stock worth $14,908,000 after purchasing an additional 80,855 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Match Group by 54.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 85,777 shares of the technology company’s stock worth $3,131,000 after purchasing an additional 30,229 shares during the last quarter. Norges Bank bought a new position in shares of Match Group in the fourth quarter worth approximately $112,903,000. FORA Capital LLC bought a new position in shares of Match Group in the first quarter worth approximately $2,410,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Match Group in the fourth quarter worth approximately $5,503,000. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.