Match Group, Inc. (MTCH) PT Raised to $28.00
Match Group, Inc. (NASDAQ:MTCH) had its target price hoisted by stock analysts at Citigroup Inc. from $22.00 to $28.00 in a report issued on Wednesday. The firm presently has a “buy” rating on the technology company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 13.13% from the stock’s current price.
MTCH has been the topic of several other research reports. Zacks Investment Research raised shares of Match Group from a “strong sell” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Match Group in a research note on Saturday. UBS AG raised their target price on shares of Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. BMO Capital Markets reiterated a “buy” rating and issued a $21.00 price target on shares of Match Group in a report on Wednesday, September 13th. Finally, Aegis boosted their price target on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.20.
Shares of Match Group (NASDAQ:MTCH) opened at 24.75 on Wednesday. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 35.21 and a beta of 0.56. The firm’s 50-day moving average price is $21.90 and its 200 day moving average price is $19.10. Match Group has a 52 week low of $15.08 and a 52 week high of $25.26.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Match Group had a net margin of 16.21% and a return on equity of 34.49%. The company had revenue of $309.57 million for the quarter, compared to analysts’ expectations of $310.36 million. During the same period last year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Match Group will post $0.79 EPS for the current year.
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In related news, Vice Chairman Sam Yagan sold 684,583 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $21.95, for a total value of $15,026,596.85. Following the completion of the transaction, the insider now owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jared F. Sine sold 64,436 shares of Match Group stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the transaction, the general counsel now owns 64,436 shares of the company’s stock, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 902,498 shares of company stock worth $19,287,878. Insiders own 18.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mazama Capital Management Inc. bought a new stake in shares of Match Group in the 4th quarter valued at approximately $2,134,000. Monashee Investment Management LLC bought a new position in shares of Match Group during the 2nd quarter valued at approximately $807,000. Schroder Investment Management Group purchased a new stake in Match Group during the 4th quarter valued at $15,585,000. Morgan Stanley purchased a new stake in Match Group during the 4th quarter valued at $1,720,000. Finally, Guggenheim Capital LLC purchased a new stake in Match Group during the 4th quarter valued at $959,000. Institutional investors own 18.97% of the company’s stock.
Match Group Company Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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