Match Group (NASDAQ:MTCH) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. started coverage on shares of Match Group (NASDAQ:MTCH) in a note issued to investors on Monday. The brokerage set a “neutral” rating and a $43.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.93% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Morgan Stanley set a $40.00 price objective on Match Group in a research report on Wednesday, August 5th. Finally, Citigroup boosted their price objective on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Match Group has an average rating of “Moderate Buy” and an average price target of $42.46.

Match Group Trading Up 1.2%

MTCH stock traded up $0.51 during trading on Monday, hitting $41.38. 149,022 shares of the stock traded hands, compared to its average volume of 4,141,709. Match Group has a one year low of $28.81 and a one year high of $41.42. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 0.60 and a beta of 1.30. The company has a 50 day simple moving average of $38.01 and a 200 day simple moving average of $34.90.

Match Group (NASDAQ:MTCH) last released its quarterly 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. The firm had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, analysts predict that Match Group will post 3.31 earnings per share for the current fiscal year.

Insider Transactions at Match Group

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Match Group

A number of institutional investors and hedge funds have recently modified their holdings of MTCH. BlackRock Inc. acquired a new position in Match Group in the second quarter valued at approximately $1,087,055,000. State Street Corp grew its holdings in Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after acquiring an additional 2,461,025 shares during the period. Ameriprise Financial Inc. grew its holdings in Match Group by 1.3% during the 2nd 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 period. Starboard Value LP raised its position in shares of Match Group by 2.9% during the 4th 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 during the last quarter. Finally, Invesco Ltd. raised its position in shares of Match Group by 9.8% during the 4th 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 during the last quarter. 94.05% of the stock is owned by institutional investors.

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.