Wells Fargo & Company Boosts Match Group (NASDAQ:MTCH) Price Target to $41.00

Match Group (NASDAQ:MTCH) had its price objective hoisted by investment analysts at Wells Fargo & Company from $38.00 to $41.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 8.84% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Truist Financial set a $37.00 target price on shares of Match Group in a report on Wednesday, May 6th. UBS Group increased their price target on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. TD Cowen raised their price target on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Piper Sandler set a $51.00 price objective on Match Group in a research report on Wednesday, May 6th. Finally, Barclays increased their target price on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and a consensus price target of $41.29.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $37.67 on Tuesday. Match Group has a 1-year low of $28.81 and a 1-year high of $39.20. The business has a fifty day moving average price of $36.05 and a 200-day moving average price of $33.27. The company has a market capitalization of $8.79 billion, a PE ratio of 14.38, a PEG ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The company had revenue of $863.93 million for the quarter, compared to analysts’ expectations of $854.70 million. During the same quarter in the previous year, the business posted $0.44 EPS. Match Group’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Match Group will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Match Group

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in Match Group in the third quarter worth about $28,000. Activest Wealth Management increased its position in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the last quarter. Whittier Trust Co. increased its position in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after purchasing an additional 431 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Match Group in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.