Morgan Stanley Issues Pessimistic Forecast for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price objective decreased by Morgan Stanley from $36.00 to $33.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price indicates a potential upside of 7.35% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Citigroup raised their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays lowered their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. HSBC upgraded Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price for the company in a research report on Monday, August 5th. Royal Bank of Canada decreased their price target on Match Group from $47.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $38.00 price objective on shares of Match Group in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Match Group has an average rating of “Moderate Buy” and a consensus price target of $40.73.

Match Group Stock Performance

MTCH stock opened at $30.74 on Tuesday. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The company has a market capitalization of $7.93 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. The company’s 50-day simple moving average is $36.47 and its 200 day simple moving average is $33.99.

Hedge Funds Weigh In On Match Group

Several large investors have recently bought and sold shares of the company. Sumitomo Life Insurance Co. increased its stake in shares of Match Group by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after buying an additional 297 shares during the period. Fulton Bank N.A. grew its holdings in Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after acquiring an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after acquiring an additional 357 shares during the period. Empirical Finance LLC raised its stake in shares of Match Group by 1.5% during the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after acquiring an additional 384 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 455 shares during the period. 94.05% of the stock is currently owned by 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.