Stifel Nicolaus Lowers Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price target cut by equities research analysts at Stifel Nicolaus from $36.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 3.55% from the company’s current price.

Several other research firms have also issued reports on MTCH. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler restated an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Susquehanna lowered their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Fifteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.68.

Match Group Stock Performance

MTCH stock opened at $33.80 on Thursday. The firm has a fifty day moving average price of $32.99 and a 200 day moving average price of $34.66. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The firm has a market cap of $8.49 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. On average, equities analysts predict that Match Group will post 2.37 EPS for the current year.

Match Group announced that its board has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the third quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC acquired a new position in shares of Match Group during the third quarter worth $87,000. 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.