Match Group (NASDAQ:MTCH) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Match Group (NASDAQ:MTCH) from an overweight rating to an equal weight rating in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have $37.00 target price on the technology company’s stock, down from their prior target price of $53.00.

MTCH has been the topic of a number of other research reports. Piper Sandler reissued an overweight rating and issued a $45.00 price target on shares of Match Group in a report on Wednesday, March 27th. StockNews.com cut Match Group from a buy rating to a hold rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. reduced their price objective on Match Group from $60.00 to $55.00 and set an overweight rating on the stock in a research report on Thursday, February 1st. Raymond James began coverage on Match Group in a research report on Thursday, April 4th. They issued a market perform rating for the company. Finally, Citigroup increased their target price on shares of Match Group from $32.00 to $39.00 and gave the company a neutral rating in a report on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Match Group currently has a consensus rating of Moderate Buy and an average target price of $43.95.

Match Group Stock Performance

NASDAQ:MTCH opened at $32.18 on Thursday. Match Group has a 52-week low of $27.85 and a 52-week high of $49.24. The stock has a fifty day moving average of $35.00 and a 200 day moving average of $34.79. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.51 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.32. The firm had revenue of $866.00 million for the quarter, compared to analysts’ expectations of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. Equities analysts forecast that Match Group will post 2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Match Group

Institutional investors have recently modified their holdings of the business. Covestor Ltd raised its position in Match Group by 161.3% in the first quarter. Covestor Ltd now owns 742 shares of the technology company’s stock worth $81,000 after acquiring an additional 458 shares during the period. Principal Securities Inc. purchased a new position in Match Group during the fourth quarter valued at $31,000. State of Wyoming bought a new stake in Match Group during the second quarter valued at about $38,000. Mather Group LLC. purchased a new stake in Match Group in the first quarter worth about $33,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Match Group in the third quarter worth about $40,000. 94.05% of the stock is owned by hedge funds and other 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.