Match Group (NASDAQ:MTCH) PT Lowered to $85.00

Posted by MarketBeat News on Aug 6th, 2022

Match Group (NASDAQ:MTCH – Get Rating) had its price objective lowered by equities researchers at Susquehanna from $100.00 to $85.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the technology company’s stock. Susquehanna’s price target suggests a potential upside of 25.41% from the stock’s current price.

MTCH has been the subject of a number of other reports. Cowen lowered their price target on shares of Match Group from $130.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, July 26th. Wedbush reduced their target price on shares of Match Group from $130.00 to $98.00 in a research report on Thursday, May 5th. Wells Fargo & Company raised shares of Match Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $140.00 to $115.00 in a research report on Monday, May 9th. Barclays dropped their price target on shares of Match Group from $81.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Finally, Evercore ISI dropped their price target on shares of Match Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.86.

Match Group Stock Performance

Shares of MTCH stock opened at $67.78 on Thursday. The firm’s 50-day simple moving average is $73.31 and its two-hundred day simple moving average is $88.77. Match Group has a 52 week low of $59.15 and a 52 week high of $182.00. The firm has a market cap 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:MTCH – Get Rating) last issued its quarterly earnings data 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 company had revenue of $798.63 million during the quarter, compared to analysts’ expectations of $795.03 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. Match Group’s revenue for the quarter was up 19.6% on a year-over-year basis. Analysts forecast that Match Group will post 2.63 earnings per share for the current year.

Insider Transactions at Match Group

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

Institutional Investors Weigh In On Match Group

Hedge funds have recently bought and sold shares of 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 shares of Match Group during the 4th quarter worth about $27,000. Tsfg LLC raised its position in shares of Match Group by 181.1% during the 1st quarter. Tsfg LLC now owns 253 shares of the technology company’s stock worth $28,000 after acquiring an additional 163 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Match Group during the 1st quarter worth about $28,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Match Group during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Match Group Company Profile

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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.