Morgan Stanley Increases Match Group (NASDAQ:MTCH) Price Target to $33.00

Match Group (NASDAQ:MTCH) had its price target hoisted by equities researchers at Morgan Stanley from $32.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 2.37% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Barclays reduced their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Evercore ISI cut shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target on the stock. in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Fifteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Match Group presently has an average rating of “Hold” and an average price target of $37.68.

Match Group Trading Down 2.3 %

MTCH stock opened at $33.80 on Thursday. The company’s 50 day moving average is $32.99 and its 200 day moving average is $34.66. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. Match Group has a 1-year low of $27.66 and a 1-year high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. As a group, sell-side analysts forecast that Match Group will post 2.37 EPS for the current fiscal year.

Match Group announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Match Group during the third quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the third quarter valued at $57,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares during the period. Finally, Solstein Capital LLC purchased a new position in Match Group during the third quarter valued at $87,000. Hedge funds and other 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.