BidaskClub Upgrades Match Group (MTCH) to Strong-Buy

Match Group (NASDAQ:MTCH) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

A number of other research analysts have also issued reports on the company. Guggenheim raised Match Group from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Bank of America boosted their target price on Match Group from $21.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 10th. Deutsche Bank reissued a “buy” rating and issued a $33.00 target price on shares of Match Group in a report on Wednesday, November 15th. Wells Fargo & Co reissued a “buy” rating and issued a $29.00 target price (up previously from $21.00) on shares of Match Group in a report on Thursday, October 19th. Finally, Cowen reissued an “outperform” rating and issued a $28.00 target price (up previously from $22.00) on shares of Match Group in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Match Group presently has a consensus rating of “Buy” and a consensus price target of $32.77.

Shares of Match Group (NASDAQ MTCH) opened at $34.73 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40. Match Group has a 52 week low of $15.42 and a 52 week high of $34.75. The firm has a market capitalization of $9,690.00 and a P/E ratio of 23.15.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Match Group had a net margin of 34.06% and a return on equity of 31.18%. The firm had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $329.19 million. During the same quarter in the prior year, the firm posted $0.23 EPS. Match Group’s quarterly revenue was up 19.4% compared to the same quarter last year. equities research analysts expect that Match Group will post 0.62 EPS for the current year.

In related news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MTCH. Cubist Systematic Strategies LLC grew its holdings 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 worth $111,000 after acquiring an additional 5,333 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Match Group by 2,627.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,737 shares of the technology company’s stock worth $117,000 after acquiring an additional 3,600 shares during the period. The Manufacturers Life Insurance Company grew its holdings 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 worth $131,000 after acquiring an additional 519 shares during the period. Turner Investments LLC acquired a new position in Match Group during the third quarter worth $162,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Match Group by 162.9% during the third quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock worth $163,000 after acquiring an additional 4,359 shares during the period. 20.97% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “BidaskClub Upgrades Match Group (MTCH) to Strong-Buy” was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/28/bidaskclub-upgrades-match-group-mtch-to-strong-buy.html.

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.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply