Match Group (NASDAQ:MTCH) Price Target Lowered to $30.00 at Wells Fargo & Company

Match Group (NASDAQ:MTCH) had its target price reduced by Wells Fargo & Company from $31.00 to $30.00 in a research note released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Piper Sandler reiterated an overweight rating and issued a $45.00 price objective on shares of Match Group in a report on Wednesday, March 27th. The Goldman Sachs Group cut their target price on shares of Match Group from $47.00 to $37.00 and set a buy rating on the stock in a report on Thursday. StockNews.com upgraded shares of Match Group from a hold rating to a buy rating in a report on Thursday, May 2nd. Morgan Stanley lowered shares of Match Group from an overweight rating to an equal weight rating and cut their price target for the stock from $53.00 to $37.00 in a report on Thursday, April 18th. Finally, Citigroup upped their price objective on shares of Match Group from $32.00 to $39.00 and gave the company a neutral rating in a research note on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Match Group has a consensus rating of Moderate Buy and a consensus target price of $42.11.

Match Group Price Performance

NASDAQ:MTCH opened at $30.69 on Thursday. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.50 and a beta of 1.43. The business has a 50 day moving average of $33.43 and a 200 day moving average of $34.23. Match Group has a 1-year low of $27.66 and a 1-year high of $49.24.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The firm had revenue of $860.00 million during the quarter, compared to analyst estimates of $855.77 million. During the same period in the previous year, the business posted $0.42 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Match Group will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in Match Group in the 1st quarter worth approximately $28,000. Principal Securities Inc. bought a new position in shares of Match Group during the fourth quarter valued at $31,000. Mather Group LLC. purchased a new stake in shares of Match Group during the first quarter valued at $33,000. Fidelis Capital Partners LLC bought a new stake in Match Group in the 1st quarter worth about $33,000. Finally, VisionPoint Advisory Group LLC purchased a new position in Match Group in the 3rd quarter worth about $40,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Company Profile

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.