Evercore ISI Lowers Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its target price decreased by investment analysts at Evercore ISI from $37.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price target indicates a potential upside of 14.45% from the stock’s current price.

A number of other research firms have also recently commented on MTCH. Loop Capital cut their target price on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday. UBS Group dropped their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays reduced their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Morgan Stanley dropped their target price on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.06.

Match Group Trading Down 2.9 %

Shares of MTCH opened at $30.58 on Friday. The firm has a market cap of $7.68 billion, a P/E ratio of 13.65, a PEG ratio of 1.18 and a beta of 1.47. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42. The stock’s 50 day moving average is $34.47 and its two-hundred day moving average is $34.11.

Match Group announced that its board has initiated a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Match Group

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Match Group during the 2nd quarter worth about $220,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Match Group by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock worth $17,556,000 after acquiring an additional 17,540 shares in the last quarter. Penn Davis Mcfarland Inc. lifted its position in Match Group by 1.0% in the second quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company’s stock valued at $14,290,000 after acquiring an additional 4,638 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Match Group by 7.3% during the second quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock worth $269,000 after purchasing an additional 598 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its position in shares of Match Group by 8.1% during the second quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock worth $409,000 after purchasing an additional 1,010 shares in the last quarter. 94.05% of the stock is currently 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.