Match Group (NASDAQ:MTCH) Price Target Cut to $38.00 by Analysts at UBS Group

Match Group (NASDAQ:MTCH) had its price objective lowered by UBS Group from $43.00 to $38.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on MTCH. Wolfe Research began coverage on shares of Match Group in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Evercore ISI upgraded shares of Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Bank of America restated a “neutral” rating and issued a $35.00 price target (down from $50.00) on shares of Match Group in a report on Thursday. Finally, Susquehanna cut their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Match Group Price Performance

Shares of MTCH traded down $0.55 during midday trading on Friday, hitting $30.56. The stock had a trading volume of 10,143,629 shares, compared to its average volume of 5,286,069. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42. The firm has a market cap of $7.88 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.51. The stock’s 50 day moving average is $36.70 and its 200 day moving average is $33.96.

Match Group (NASDAQ:MTCH) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. The business had revenue of $895.48 million for the quarter, compared to the consensus estimate of $900.33 million. As a group, equities research analysts expect that Match Group will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Match Group

A number of institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of Match Group in the 2nd quarter valued at approximately $100,848,000. Pacer Advisors Inc. raised its position in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares during the last quarter. Marshall Wace LLP purchased a new position in Match Group during the 2nd quarter worth approximately $49,053,000. Capitolis Liquid Global Markets LLC raised its position in Match Group by 668.9% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock worth $47,309,000 after buying an additional 1,134,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Match Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after buying an additional 977,090 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

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.