Piper Sandler Begins Coverage on Match Group (NASDAQ:MTCH)

Piper Sandler began coverage on shares of Match Group (NASDAQ:MTCH) in a research report report published on Wednesday, PriceTargets.com reports. The brokerage issued an overweight rating and a $160.00 price target on the technology company’s stock.

A number of other research analysts have also weighed in on MTCH. BMO Capital Markets cut their price objective on Match Group from $160.00 to $150.00 and set a market perform rating on the stock in a report on Thursday, November 4th. Wolfe Research started coverage on Match Group in a report on Tuesday, January 4th. They issued an outperform rating and a $163.00 price objective on the stock. Finally, Barclays increased their price objective on Match Group from $148.00 to $153.00 and gave the company an equal weight rating in a report on Thursday, November 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus price target of $167.11.

Shares of NASDAQ:MTCH opened at $121.15 on Wednesday. The business’s 50-day moving average is $133.68 and its 200 day moving average is $147.12. Match Group has a 1 year low of $118.51 and a 1 year high of $182.00. The firm has a market capitalization of $34.30 billion, a P/E ratio of 62.45, a P/E/G ratio of 3.10 and a beta of 0.98.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, November 2nd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.09). Match Group had a net margin of 20.75% and a negative return on equity of 90.70%. The business had revenue of $801.84 million for the quarter, compared to analyst estimates of $801.22 million. During the same period in the prior year, the company earned $0.45 earnings per share. On average, equities analysts predict that Match Group will post 2.08 earnings per share for the current fiscal year.

In other Match Group news, Director Joseph Levin sold 163,220 shares of the stock in a transaction that occurred on Thursday, October 21st. The stock was sold at an average price of $174.73, for a total transaction of $28,519,430.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of MTCH. BlackRock Inc. boosted its position in Match Group by 37.2% during the third quarter. BlackRock Inc. now owns 22,719,926 shares of the technology company’s stock worth $3,566,801,000 after purchasing an additional 6,156,506 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Match Group by 57.9% during the second quarter. Edgewood Management LLC now owns 13,597,154 shares of the technology company’s stock valued at $2,192,541,000 after acquiring an additional 4,987,525 shares during the last quarter. Lone Pine Capital LLC raised its holdings in shares of Match Group by 24.8% during the second quarter. Lone Pine Capital LLC now owns 7,746,500 shares of the technology company’s stock valued at $1,249,123,000 after acquiring an additional 1,541,815 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Match Group by 13.1% during the second quarter. JPMorgan Chase & Co. now owns 11,547,124 shares of the technology company’s stock valued at $1,861,975,000 after acquiring an additional 1,333,932 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Match Group by 32.4% during the third quarter. Geode Capital Management LLC now owns 4,972,016 shares of the technology company’s stock valued at $778,575,000 after acquiring an additional 1,216,985 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.

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