Match Group (NASDAQ:MTCH) Price Target Cut to $53.00 by Analysts at Barclays

Match Group (NASDAQ:MTCH) had its target price lowered by Barclays from $55.00 to $53.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts also recently commented on the stock. HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective for the company in a research note on Monday, August 5th. UBS Group dropped their price objective on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $38.00 price target on shares of Match Group in a research report on Wednesday, July 31st. Finally, Citigroup increased their price objective on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.90.

Match Group Stock Performance

Shares of Match Group stock traded down $0.55 on Friday, reaching $30.56. 10,143,629 shares of the stock were exchanged, compared to its average volume of 5,286,069. The firm’s 50 day moving average is $36.70 and its 200-day moving average is $33.96. Match Group has a one year low of $27.66 and a one year high of $42.42. The firm has a market cap of $7.88 billion, a PE ratio of 13.64, a P/E/G ratio of 0.79 and a beta of 1.51.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. The company had revenue of $895.48 million during the quarter, compared to the consensus estimate of $900.33 million. On average, equities research analysts expect that Match Group will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

Large investors have recently modified their holdings of the business. Venturi Wealth Management LLC increased its stake in shares of Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Quarry LP increased its stake in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares in the last quarter. Sentry Investment Management LLC purchased a new position in shares of Match Group in the first quarter worth about $57,000. Mather Group LLC. increased its stake in shares of Match Group by 87.6% in the second quarter. Mather Group LLC. now owns 1,700 shares of the technology company’s stock worth $52,000 after purchasing an additional 794 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other 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.