Match Group (NASDAQ:MTCH) Price Target Cut to $35.00

Match Group (NASDAQ:MTCH) had its price target lowered by Wells Fargo & Company from $38.00 to $35.00 in a report released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their price objective on Match Group from $39.00 to $45.00 and gave the company a buy rating in a research report on Thursday, August 1st. StockNews.com cut shares of Match Group from a buy rating to a hold rating in a research note on Thursday, July 25th. Citigroup boosted their target price on shares of Match Group from $33.00 to $39.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price target on shares of Match Group from $33.00 to $47.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Finally, Evercore ISI upgraded Match Group to a strong-buy rating in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of Moderate Buy and an average target price of $42.34.

Match Group Stock Performance

MTCH opened at $37.72 on Tuesday. The company’s 50-day simple moving average is $36.38 and its two-hundred day simple moving average is $33.57. The stock has a market capitalization of $9.73 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.76 and a beta of 1.51. Match Group has a 52-week low of $27.66 and a 52-week high of $42.42.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The company had revenue of $864.07 million for the quarter, compared to the consensus estimate of $856.51 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts forecast that Match Group will post 1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

Several hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. purchased a new position in Match Group during the first quarter valued at $28,000. Mather Group LLC. bought a new stake in shares of Match Group in the first quarter worth about $33,000. Fidelis Capital Partners LLC purchased a new stake in shares of Match Group in the first quarter worth about $33,000. Quarry LP boosted its stake in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Match Group during the 1st quarter valued at approximately $57,000. Hedge funds and other institutional investors 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.