Match Group (NASDAQ:MTCH) PT Lowered to $33.00

Match Group (NASDAQ:MTCH) had its price target cut by equities research analysts at Morgan Stanley from $34.00 to $33.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.60% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Piper Sandler restated an “overweight” rating and issued a $45.00 price target on shares of Match Group in a report on Wednesday, March 27th. Wells Fargo & Company reduced their price objective on Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Susquehanna lowered their target price on Match Group from $46.00 to $45.00 and set a “positive” rating on the stock in a report on Monday, May 13th. Finally, KeyCorp decreased their price objective on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.45.

Match Group Trading Up 2.3 %

NASDAQ MTCH opened at $31.55 on Wednesday. The business’s 50 day moving average is $30.66 and its two-hundred day moving average is $33.70. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.52 and a beta of 1.49. Match Group has a 12-month low of $27.66 and a 12-month high of $49.24.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The firm had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Match Group’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Match Group will post 2.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Match Group

Large investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new position in shares of Match Group during the 1st quarter valued at about $28,000. Principal Securities Inc. acquired a new position in Match Group during the fourth quarter worth approximately $31,000. Mather Group LLC. purchased a new position in Match Group during the first quarter worth approximately $33,000. Fidelis Capital Partners LLC acquired a new position in shares of Match Group in the 1st quarter valued at $33,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of Match Group during the 3rd quarter valued at $40,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.