UBS Group Cuts Match Group (NASDAQ:MTCH) Price Target to $36.00

Match Group (NASDAQ:MTCH) had its price objective cut by investment analysts at UBS Group from $40.00 to $36.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s price target would suggest a potential upside of 17.72% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Match Group from $43.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday. Raymond James assumed coverage on shares of Match Group in a research note on Thursday, April 4th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Match Group in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.11.

Match Group Trading Up 2.5 %

NASDAQ MTCH traded up $0.76 during trading on Thursday, reaching $30.58. The company’s stock had a trading volume of 6,999,121 shares, compared to its average volume of 5,814,429. Match Group has a 12 month low of $27.66 and a 12 month high of $49.24. The firm has a 50 day moving average price of $33.77 and a 200 day moving average price of $34.34. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. On average, equities analysts forecast that Match Group will post 2.16 EPS for the current fiscal year.

Institutional Trading of Match Group

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Match Group by 34.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after buying an additional 2,130,646 shares during the period. Ameriprise Financial Inc. grew its position in Match Group by 5.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock valued at $301,798,000 after purchasing an additional 377,745 shares during the period. Boston Partners acquired a new stake in Match Group in the 3rd quarter valued at $276,406,000. Edmond DE Rothschild Holding S.A. increased its stake in Match Group by 30.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after purchasing an additional 943,894 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Match Group by 4.0% during the third quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock worth $158,176,000 after buying an additional 156,465 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

About Match Group

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.