Match Group (NASDAQ:MTCH) PT Lowered to $100.00 at Cowen

Match Group (NASDAQ:MTCHGet Rating) had its price target decreased by equities research analysts at Cowen from $128.00 to $100.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the technology company’s stock. Cowen’s target price would suggest a potential upside of 47.54% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Susquehanna lowered their target price on Match Group from $100.00 to $85.00 and set a “positive” rating on the stock in a research report on Thursday. Royal Bank of Canada lowered their target price on Match Group from $150.00 to $115.00 in a research report on Thursday, May 5th. Barclays lowered their target price on Match Group from $81.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Truist Financial downgraded Match Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $145.00 to $68.00 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Match Group from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.86.

Match Group Price Performance

MTCH opened at $67.78 on Thursday. The business’s 50-day moving average price is $73.31 and its two-hundred day moving average price is $88.77. Match Group has a 1 year low of $59.15 and a 1 year high of $182.00. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 211.82, a P/E/G ratio of 0.58 and a beta of 1.15.

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

Insider Transactions at Match Group

In related news, CEO Bernard Jin Kim purchased 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $63.58 per share, for a total transaction of $1,017,280.00. Following the completion of the purchase, the chief executive officer now owns 16,000 shares in the company, valued at approximately $1,017,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Match Group by 3.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 336,191 shares of the technology company’s stock valued at $23,429,000 after buying an additional 10,472 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Match Group in the second quarter valued at approximately $327,000. Wrapmanager Inc. boosted its stake in shares of Match Group by 29.7% in the second quarter. Wrapmanager Inc. now owns 6,504 shares of the technology company’s stock valued at $453,000 after buying an additional 1,489 shares during the period. M&T Bank Corp boosted its stake in shares of Match Group by 3.8% in the second quarter. M&T Bank Corp now owns 34,539 shares of the technology company’s stock valued at $2,359,000 after buying an additional 1,251 shares during the period. Finally, Pinebridge Investments L.P. boosted its stake in shares of Match Group by 102.4% in the second quarter. Pinebridge Investments L.P. now owns 678 shares of the technology company’s stock valued at $47,000 after buying an additional 343 shares during the period. 96.11% of the stock is currently owned by institutional investors.

About Match Group

(Get Rating)

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.

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