Match Group (NASDAQ:MTCH) Stock Rating Reaffirmed by Piper Sandler

Match Group (NASDAQ:MTCH)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a research note issued on Wednesday, Benzinga reports. They currently have a $45.00 price target on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 24.04% from the stock’s current price.

Several other research firms also recently issued reports on MTCH. JPMorgan Chase & Co. reduced their price target on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. UBS Group lifted their price target on shares of Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. KeyCorp lifted their price objective on shares of Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Citigroup lifted their price objective on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Finally, Wells Fargo & Company started coverage on Match Group in a research note on Thursday, December 7th. They set an “equal weight” rating and a $32.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.58.

Match Group Stock Performance

Match Group stock opened at $36.28 on Wednesday. Match Group has a 52-week low of $27.85 and a 52-week high of $49.24. The firm has a 50 day moving average price of $35.97 and a two-hundred day moving average price of $35.68. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.57 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.49 by $0.32. The company had revenue of $866.00 million during the quarter, compared to the consensus estimate of $861.31 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. As a group, equities research analysts predict that Match Group will post 2.17 EPS for the current fiscal year.

Institutional Trading of Match Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Match Group by 5.6% in the first quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock worth $1,372,412,000 after buying an additional 1,889,531 shares in the last quarter. Vanguard Group Inc. lifted its position in Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after purchasing an additional 500,418 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Match Group by 107,412.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock valued at $984,604,000 after acquiring an additional 23,709,043 shares in the last quarter. State Street Corp raised its holdings in shares of Match Group by 8.1% during the second quarter. State Street Corp now owns 13,215,374 shares of the technology company’s stock valued at $553,063,000 after acquiring an additional 992,393 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Match Group by 113.9% during the second quarter. Nuveen Asset Management LLC now owns 8,720,847 shares of the technology company’s stock valued at $364,967,000 after acquiring an additional 4,643,693 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.