KeyCorp Trims Match Group (NASDAQ:MTCH) Target Price to $46.00

Match Group (NASDAQ:MTCH) had its target price lowered by KeyCorp from $50.00 to $46.00 in a research note issued to investors on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Match Group from $35.00 to $38.00 and gave the stock a neutral rating in a report on Friday, January 26th. Morgan Stanley cut shares of Match Group from an overweight rating to an equal weight rating and reduced their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. JPMorgan Chase & Co. dropped 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 note on Thursday, February 1st. Citigroup boosted their target price on shares of Match Group from $32.00 to $39.00 and gave the company a neutral rating in a research note on Thursday, February 1st. Finally, Piper Sandler reiterated an overweight rating and set a $45.00 target price on shares of Match Group in a research note on Wednesday, March 27th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $42.82.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $29.82 on Monday. Match Group has a 1-year low of $27.66 and a 1-year high of $49.24. The stock has a market cap of $7.99 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.51 and a beta of 1.43. The firm has a fifty day moving average price of $33.77 and a 200 day moving average price of $34.34.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Match Group will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

Large investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Match Group by 301.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 52,132 shares of the technology company’s stock worth $1,891,000 after buying an additional 39,150 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Match Group by 30.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after acquiring an additional 943,894 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Match Group by 23.8% in the first quarter. Bleakley Financial Group LLC now owns 90,716 shares of the technology company’s stock valued at $3,291,000 after purchasing an additional 17,427 shares during the period. ProShare Advisors LLC raised its position in shares of Match Group by 49.4% in the first quarter. ProShare Advisors LLC now owns 73,417 shares of the technology company’s stock valued at $2,664,000 after purchasing an additional 24,260 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Match Group by 117.5% in the first quarter. Russell Investments Group Ltd. now owns 218,694 shares of the technology company’s stock valued at $7,927,000 after purchasing an additional 118,142 shares during the period. 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.