Match Group (NASDAQ:MTCH) Upgraded to “Buy” by HSBC

HSBC upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a research report released on Monday morning, MarketBeat reports. HSBC currently has $43.20 price target on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a $38.00 target price on shares of Match Group in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of Match Group from $39.00 to $45.00 and gave the company a buy rating in a research report on Thursday, August 1st. UBS Group reduced their target price on shares of Match Group from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company lowered their price target on shares of Match Group from $31.00 to $30.00 and set an equal weight rating for the company in a report on Thursday, May 9th. Finally, TD Cowen upped their price objective on Match Group from $44.00 to $46.00 and gave the stock a buy rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Match Group currently has a consensus rating of Moderate Buy and an average price target of $42.07.

Match Group Stock Performance

Shares of NASDAQ:MTCH traded up $0.02 during midday trading on Monday, reaching $35.68. 3,563,406 shares of the company’s stock were exchanged, compared to its average volume of 5,772,636. The company’s 50 day simple moving average is $31.97 and its two-hundred day simple moving average is $33.40. Match Group has a 12 month low of $27.66 and a 12 month high of $47.81. The firm has a market capitalization of $9.48 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.63 and a beta of 1.48.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Match Group will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new position in shares of Match Group in the 1st quarter valued at approximately $28,000. Principal Securities Inc. acquired a new position in Match Group in the 4th quarter worth $31,000. Mather Group LLC. bought a new position in Match Group during the 1st quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Match Group in the 1st quarter valued at about $33,000. Finally, GAMMA Investing LLC bought a new stake in shares of Match Group in the fourth quarter valued at about $55,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.