Royal Bank of Canada Lowers Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price objective decreased by Royal Bank of Canada from $47.00 to $35.00 in a research report sent to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also issued reports on MTCH. Susquehanna cut their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday. Bank of America reaffirmed a “neutral” rating and issued a $35.00 target price (down from $50.00) on shares of Match Group in a research report on Thursday. Citigroup boosted their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. TD Cowen boosted their price target on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.90.

Match Group Stock Down 1.8 %

Shares of MTCH traded down $0.55 during trading on Friday, reaching $30.56. The company’s stock had a trading volume of 10,143,629 shares, compared to its average volume of 5,286,069. The company has a fifty day moving average of $36.70 and a two-hundred day moving average of $33.96. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.79 and a beta of 1.51.

Match Group (NASDAQ:MTCH) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $900.33 million. As a group, equities analysts forecast that Match Group will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTCH. Assenagon Asset Management S.A. acquired a new position in Match Group during the 2nd quarter worth $100,848,000. Pacer Advisors Inc. boosted its position in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after acquiring an additional 2,940,667 shares during the period. Marshall Wace LLP acquired a new stake in shares of Match Group in the second quarter valued at $49,053,000. Capitolis Liquid Global Markets LLC lifted its holdings in shares of Match Group by 668.9% in the first quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock valued at $47,309,000 after buying an additional 1,134,400 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Match Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after buying an additional 977,090 shares during the period. 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.