Match Group (NASDAQ:MTCH) Downgraded by StockNews.com to “Hold”

Match Group (NASDAQ:MTCH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also issued research reports about the stock. Piper Sandler restated an “overweight” rating and issued a $45.00 price target on shares of Match Group in a research report on Wednesday, March 27th. Wells Fargo & Company cut their price target on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley lowered their price objective on Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Citigroup decreased their target price on Match Group from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Wolfe Research started coverage on Match Group in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price for the company. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.79.

Match Group Stock Up 0.8 %

Match Group stock traded up $0.26 during trading hours on Thursday, hitting $33.25. The stock had a trading volume of 6,752,013 shares, compared to its average volume of 5,666,034. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.58 and a beta of 1.49. The business’s 50 day simple moving average is $31.19 and its 200-day simple moving average is $33.55. Match Group has a one year low of $27.66 and a one year high of $49.24.

Match Group (NASDAQ:MTCH) last posted its earnings results 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. The firm had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Research analysts anticipate that Match Group will post 2.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

Several large investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its stake in shares of Match Group by 54.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 85,777 shares of the technology company’s stock worth $3,131,000 after buying an additional 30,229 shares during the last quarter. Norges Bank purchased a new position in Match Group in the fourth quarter worth $112,903,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Match Group in the fourth quarter worth $5,503,000. FORA Capital LLC bought a new position in Match Group in the 1st quarter valued at $2,410,000. Finally, Nordea Investment Management AB increased its position in shares of Match Group by 20.8% during the 1st quarter. Nordea Investment Management AB now owns 1,262,946 shares of the technology company’s stock valued at $46,072,000 after purchasing an additional 217,760 shares during the last quarter. 94.05% of the stock is currently owned by 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.