Match Group (NASDAQ:MTCH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a report issued on Monday.

MTCH has been the subject of several other reports. Royal Bank of Canada lowered their price objective on shares of Match Group from $43.00 to $33.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Susquehanna lowered their price objective on shares of Match Group from $46.00 to $45.00 and set a positive rating for the company in a research report on Monday, May 13th. TD Cowen lowered their price objective on shares of Match Group from $46.00 to $44.00 and set a buy rating for the company in a research report on Thursday, May 9th. Morgan Stanley downgraded shares of Match Group from an overweight rating to an equal weight rating and lowered their price objective for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Match Group from $31.00 to $30.00 and set an equal weight rating for the company in a research report on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $42.43.

Match Group Trading Down 0.7 %

NASDAQ MTCH opened at $30.80 on Monday. Match Group has a 1-year low of $27.66 and a 1-year high of $49.24. The company has a 50 day moving average of $31.07 and a 200-day moving average of $34.03. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.51 and a beta of 1.46.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The company had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Match Group will post 2.11 earnings per share for the current year.

Institutional Trading of Match Group

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Match Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock worth $1,173,966,000 after purchasing an additional 416,140 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after purchasing an additional 2,130,646 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Match Group by 5.2% in the third quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock worth $301,798,000 after purchasing an additional 377,745 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock worth $148,034,000 after purchasing an additional 943,894 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Match Group by 14.2% in the third quarter. FMR LLC now owns 3,434,071 shares of the technology company’s stock worth $134,530,000 after purchasing an additional 427,635 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.