TD Cowen Cuts Match Group (NASDAQ:MTCH) Price Target to $44.00

Match Group (NASDAQ:MTCH) had its price objective cut by equities researchers at TD Cowen from $46.00 to $44.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s target price points to a potential upside of 44.26% from the company’s previous close.

Several other brokerages also recently commented on MTCH. The Goldman Sachs Group lowered their price objective on Match Group from $47.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group lifted their target price on shares of Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft reduced their target price on Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lifted their price target on Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Finally, Morgan Stanley lowered Match Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Match Group presently has an average rating of “Moderate Buy” and a consensus target price of $42.22.

Match Group Stock Up 2.3 %

Shares of MTCH stock traded up $0.68 during trading hours on Thursday, reaching $30.50. The company’s stock had a trading volume of 3,280,027 shares, compared to its average volume of 5,771,709. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $49.24. The firm’s 50 day simple moving average is $33.77 and its 200-day simple moving average is $34.34. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that Match Group will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently bought and sold shares of the stock. Empirical Finance LLC increased its stake in shares of Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock valued at $254,000 after buying an additional 326 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Match Group by 46.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock valued at $42,000 after acquiring an additional 361 shares during the period. Greenwich Wealth Management LLC lifted its position in Match Group by 1.9% during the fourth quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company’s stock valued at $700,000 after purchasing an additional 361 shares during the period. Blair William & Co. IL boosted its holdings in Match Group by 4.4% in the third quarter. Blair William & Co. IL now owns 8,941 shares of the technology company’s stock worth $350,000 after purchasing an additional 373 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Match Group by 23.5% in the 4th quarter. Global Retirement Partners LLC now owns 2,152 shares of the technology company’s stock worth $79,000 after purchasing an additional 410 shares during the period. 94.05% of the stock is currently owned by hedge funds and other 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.