Match Group (NASDAQ:MTCH) Shares Gap Down to $32.28

Match Group, Inc. (NASDAQ:MTCH)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $32.28, but opened at $31.50. Match Group shares last traded at $32.14, with a volume of 454,421 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $53.00 to $37.00 in a report on Thursday. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. UBS Group raised their price objective on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $45.00 target price on shares of Match Group in a research report on Wednesday, March 27th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.95.

Match Group Price Performance

The business’s 50-day moving average price is $35.00 and its two-hundred day moving average price is $34.81. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.32. The company had revenue of $866.00 million during the quarter, compared to the consensus estimate of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. Match Group’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts forecast that Match Group, Inc. will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Match Group by 5.6% during the first quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock worth $1,372,412,000 after purchasing an additional 1,889,531 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after acquiring an additional 500,418 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Match Group by 107,412.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock worth $984,604,000 after purchasing an additional 23,709,043 shares during the period. State Street Corp increased its position in Match Group by 0.5% during the 1st quarter. State Street Corp now owns 12,492,462 shares of the technology company’s stock worth $1,358,430,000 after purchasing an additional 58,027 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Match Group by 34.7% during the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after buying an additional 2,130,646 shares in the last quarter. Institutional investors and hedge funds 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.