Match Group, Inc. (MTCH) Stock Rating Reaffirmed by Wells Fargo & Company
Match Group, Inc. (NASDAQ:MTCH)‘s stock had its “buy” rating reiterated by analysts at Wells Fargo & Company in a research note issued to investors on Thursday. They currently have a $29.00 target price on the technology company’s stock, up from their prior target price of $21.00. Wells Fargo & Company’s target price suggests a potential upside of 12.88% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price target on shares of Match Group in a report on Saturday, September 30th. UBS AG boosted their price target on shares of Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 20th. BMO Capital Markets reissued a “buy” rating and issued a $21.00 price target on shares of Match Group in a report on Wednesday, September 13th. Citigroup Inc. boosted their price target on shares of Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, Bank of America Corporation boosted their price target on shares of Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Match Group currently has an average rating of “Buy” and an average target price of $26.49.
Shares of Match Group (MTCH) traded up 0.43% during trading on Thursday, hitting $25.69. 718,323 shares of the company were exchanged. The firm has a market capitalization of $1.34 billion, a PE ratio of 36.18 and a beta of 0.56. Match Group has a 12 month low of $15.08 and a 12 month high of $26.24. The firm’s 50-day moving average price is $24.20 and its 200 day moving average price is $19.93.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $309.57 million during the quarter, compared to analysts’ expectations of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. Match Group’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities research analysts expect that Match Group will post $0.81 earnings per share for the current fiscal year.
In other news, General Counsel Jared F. Sine sold 64,436 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the transaction, the general counsel now owns 64,436 shares of the company’s stock, valued at approximately $1,318,360.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Sam Yagan sold 54,625 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $19.31, for a total transaction of $1,054,808.75. Following the transaction, the insider now directly owns 98,854 shares in the company, valued at approximately $1,908,870.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 902,498 shares of company stock worth $19,287,878. 18.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in MTCH. Light Street Capital Management LLC acquired a new position in shares of Match Group during the 2nd quarter valued at about $39,974,000. Vanguard Group Inc. boosted its position in shares of Match Group by 34.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after acquiring an additional 1,617,950 shares during the last quarter. Mik Capital LLC acquired a new position in shares of Match Group during the 2nd quarter valued at about $23,043,000. black and white Capital LP acquired a new position in shares of Match Group during the 2nd quarter valued at about $13,209,000. Finally, First Manhattan Co. boosted its position in shares of Match Group by 18,454.2% during the 2nd quarter. First Manhattan Co. now owns 667,950 shares of the technology company’s stock valued at $11,608,000 after acquiring an additional 664,350 shares during the last quarter. 18.97% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Match Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.