Match Group (NASDAQ:MTCH) Stock Rating Upgraded by Zacks Research

Match Group (NASDAQ:MTCH) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Piper Sandler set a $51.00 price target on shares of Match Group in a research report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Citigroup raised their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Susquehanna reiterated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has an average rating of “Moderate Buy” and an average target price of $41.54.

Match Group Price Performance

MTCH opened at $36.58 on Tuesday. Match Group has a 12 month low of $28.81 and a 12 month high of $41.40. The stock has a market capitalization of $8.53 billion, a P/E ratio of 12.93, a P/E/G ratio of 0.54 and a beta of 1.30. The business has a 50 day simple moving average of $37.41 and a 200-day simple moving average of $34.54.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. During the same quarter last year, the company earned $0.49 earnings per share. Match Group’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts anticipate that Match Group will post 3.31 EPS for the current year.

Institutional Investors Weigh In On Match Group

Large investors have recently made changes to their positions in the business. Activest Wealth Management boosted its position in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC acquired a new position in Match Group during the 3rd quarter worth approximately $28,000. Whittier Trust Co. grew its position in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after acquiring an additional 431 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock valued at $36,000 after purchasing an additional 884 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.