Match Group (NASDAQ:MTCH) Given New $78.00 Price Target at Oppenheimer

Match Group (NASDAQ:MTCH – Get Rating) had its target price decreased by equities research analysts at Oppenheimer from $100.00 to $78.00 in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would indicate a potential upside of 15.08% from the stock’s previous close.

Several other research firms also recently commented on MTCH. Susquehanna reduced their price target on shares of Match Group from $100.00 to $85.00 and set a “positive” rating for the company in a research report on Thursday. The Goldman Sachs Group reduced their price target on shares of Match Group from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. KeyCorp reduced their price target on shares of Match Group from $90.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday. Truist Financial cut shares of Match Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $145.00 to $68.00 in a research note on Wednesday. Finally, Loop Capital began coverage on shares of Match Group in a research note on Monday, April 11th. They issued a “buy” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.86.

Match Group Price Performance

MTCH stock opened at $67.78 on Thursday. The company has a fifty day moving average price of $73.31 and a 200 day moving average price of $88.77. Match Group has a 12 month low of $59.15 and a 12 month high of $182.00. The company has a market cap of $19.36 billion, a price-to-earnings ratio of 211.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.15.

Match Group (NASDAQ:MTCH – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Match Group had a net margin of 3.48% and a negative return on equity of 164.13%. The firm had revenue of $798.63 million during the quarter, compared to the consensus estimate of $795.03 million. During the same quarter in the prior year, the firm earned $0.57 EPS. Match Group’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, analysts anticipate that Match Group will post 2.63 earnings per share for the current year.

Insider Transactions at Match Group

In related news, CEO Bernard Jin Kim purchased 16,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $63.58 per share, with a total value of $1,017,280.00. Following the purchase, the chief executive officer now directly owns 16,000 shares in the company, valued at approximately $1,017,280. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MUFG Americas Holdings Corp acquired a new stake in Match Group in the 4th quarter valued at about $25,000. Tyler Stone Wealth Management acquired a new stake in Match Group in the 4th quarter valued at about $27,000. Tsfg LLC grew its stake in Match Group by 181.1% in the 1st quarter. Tsfg LLC now owns 253 shares of the technology company’s stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in Match Group in the 1st quarter valued at about $28,000. Finally, Prospera Financial Services Inc acquired a new stake in Match Group in the 1st quarter valued at about $29,000. 96.11% of the stock is owned by institutional investors and hedge funds.

About Match Group

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Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.