Match Group Inc. (NASDAQ:MTCH) Receives $41.29 Consensus Target Price from Brokerages

Shares of Match Group Inc. (NASDAQ:MTCH) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $41.2857.

MTCH has been the subject of a number of recent research reports. Citigroup boosted their price objective on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Royal Bank Of Canada increased their price objective on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Barclays lifted their target price on shares of Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group increased their price target on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th.

Insider Buying and Selling at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after acquiring an additional 162,330 shares during the last quarter. Starboard Value LP grew its stake in Match Group by 2.9% during the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after acquiring an additional 325,000 shares in the last quarter. Invesco Ltd. grew its stake in Match Group by 9.8% during the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after acquiring an additional 872,524 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Match Group by 32.8% in the 4th quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock worth $261,692,000 after purchasing an additional 2,011,970 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Performance

MTCH opened at $39.41 on Monday. Match Group has a 1-year low of $28.81 and a 1-year high of $41.03. The company has a market capitalization of $9.19 billion, a PE ratio of 15.04, a PEG ratio of 0.63 and a beta of 1.30. The firm’s 50 day simple moving average is $37.07 and its two-hundred day simple moving average is $34.17.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.Match Group’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. Equities analysts forecast that Match Group will post 3.11 earnings per share for the current fiscal year.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.