Truist Financial Cuts Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price target reduced by stock analysts at Truist Financial from $37.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Truist Financial’s price target suggests a potential upside of 12.98% from the stock’s previous close.

A number of other analysts have also commented on the stock. StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI upgraded Match Group to a “strong-buy” rating in a research note on Thursday, August 1st. HSBC upgraded shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective on the stock in a research note on Monday, August 5th. TD Cowen boosted their target price on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.07.

Match Group Trading Down 0.4 %

Shares of MTCH opened at $30.98 on Friday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.79 and a beta of 1.51. The business’s fifty day simple moving average is $36.95 and its two-hundred day simple moving average is $33.99. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. Match Group had a negative return on equity of 727.22% and a net margin of 17.86%. The company had revenue of $895.48 million for the quarter, compared to analysts’ expectations of $900.33 million. As a group, research analysts forecast that Match Group will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in shares of Match Group by 2.7% during the first quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock valued at $2,894,000 after buying an additional 2,083 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Match Group by 151.7% in the 1st quarter. GSA Capital Partners LLP now owns 22,854 shares of the technology company’s stock valued at $829,000 after acquiring an additional 13,774 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Match Group by 3.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,113 shares of the technology company’s stock worth $2,036,000 after purchasing an additional 1,869 shares in the last quarter. Empirical Finance LLC boosted its holdings in shares of Match Group by 4.9% during the 1st quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock valued at $254,000 after purchasing an additional 326 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in shares of Match Group by 44.2% during the 1st quarter. Forsta AP Fonden now owns 171,900 shares of the technology company’s stock valued at $6,237,000 after purchasing an additional 52,700 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.