Barclays PLC Boosts Match Group, Inc. (MTCH) Price Target to $26.00
Match Group, Inc. (NASDAQ:MTCH) had its price objective hoisted by investment analysts at Barclays PLC from $20.00 to $26.00 in a report released on Monday. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays PLC’s target price points to a potential upside of 1.21% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company reiterated a “buy” rating and set a $29.00 price objective (up previously from $21.00) on shares of Match Group in a research note on Thursday. Cowen and Company reiterated an “outperform” rating and set a $28.00 price objective (up previously from $22.00) on shares of Match Group in a research note on Friday, October 13th. BMO Capital Markets restated an “outperform” rating and issued a $30.00 price target (up previously from $21.00) on shares of Match Group in a research note on Friday, October 13th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $25.00 price target on shares of Match Group in a research note on Wednesday, October 11th. Finally, Bank of America Corporation boosted their price target on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.46.
Match Group (MTCH) traded down 1.44% during midday trading on Monday, reaching $25.32. The company had a trading volume of 618,896 shares. Match Group has a 12-month low of $15.08 and a 12-month high of $26.24. The stock has a market capitalization of $6.64 billion, a PE ratio of 36.02 and a beta of 0.56. The company has a 50-day moving average of $24.20 and a 200-day moving average of $19.93.
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 the Zacks’ consensus estimate of $0.19 by ($0.03). The company had revenue of $309.57 million for the quarter, compared to analysts’ expectations of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, analysts predict that Match Group will post $0.81 EPS for the current fiscal year.
In related news, General Counsel Jared F. Sine sold 64,436 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the completion of the sale, the general counsel now owns 64,436 shares in the company, valued at $1,318,360.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Sam Yagan sold 684,583 shares of the company’s stock in a transaction on 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 sale, the insider now owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC increased its position in Match Group by 499.8% during the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after acquiring an additional 5,333 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Match Group by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after acquiring an additional 519 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Match Group during the second quarter valued at $176,000. Public Employees Retirement System of Ohio increased its position in Match Group by 115.3% during the second quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock valued at $183,000 after acquiring an additional 5,633 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in Match Group during the first quarter valued at $181,000. 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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