Match Group (NASDAQ:MTCH) Coverage Initiated at Wells Fargo & Company

Stock analysts at Wells Fargo & Company started coverage on shares of Match Group (NASDAQ:MTCH) in a research report issued to clients and investors on Tuesday. The firm set an “equal weight” rating and a $30.00 price target on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 6.66% from the company’s current price.

Several other equities research analysts also recently issued reports on MTCH. TD Cowen decreased their price objective on shares of Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. JPMorgan Chase & Co. decreased their price objective on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Truist Financial decreased their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Wolfe Research set a $43.00 target price on shares of Match Group and gave the stock an “outperform” rating in a research report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.64.

Match Group Stock Up 2.2%

MTCH opened at $32.14 on Tuesday. Match Group has a 52-week low of $26.39 and a 52-week high of $39.20. The company has a 50 day moving average of $30.98 and a two-hundred day moving average of $32.27. The company has a market cap of $7.48 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.51 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The business had revenue of $878.01 million for the quarter, compared to analysts’ expectations of $872.86 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Match Group’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Match Group will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Match Group during the third quarter worth $25,000. Root Financial Partners LLC bought a new stake in shares of Match Group in the third quarter worth $27,000. Advisory Services Network LLC bought a new stake in shares of Match Group in the third quarter worth $28,000. Activest Wealth Management increased its stake in shares of Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after buying an additional 848 shares during the last quarter. Finally, Rossby Financial LCC increased its stake in shares of Match Group by 126.5% in the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after buying an additional 506 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Company Profile

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.