HSBC Upgrades Match Group (NASDAQ:MTCH) to Buy

HSBC upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a report issued on Monday morning, Marketbeat reports. They currently have $43.20 target price on the technology company’s stock.

MTCH has been the topic of a number of other research reports. Truist Financial increased their target price on Match Group from $33.00 to $37.00 and gave the company a hold rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a $38.00 price objective on shares of Match Group in a research report on Wednesday, July 31st. Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the stock a neutral rating in a report on Thursday, August 1st. TD Cowen increased their target price on shares of Match Group from $44.00 to $46.00 and gave the company a buy rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Match Group from a buy rating to a hold rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $42.07.

Match Group Stock Up 0.1 %

NASDAQ:MTCH traded up $0.02 during trading hours on Monday, hitting $35.68. 3,563,406 shares of the company’s stock traded hands, compared to its average volume of 5,772,636. Match Group has a 52 week low of $27.66 and a 52 week high of $47.81. The business’s fifty day simple moving average is $31.97 and its two-hundred day simple moving average is $33.40. The firm has a market cap of $9.48 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.63 and a beta of 1.48.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $864.07 million for the quarter, compared to the consensus estimate of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. Match Group’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. On average, analysts expect that Match Group will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Match Group

Several hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. purchased a new stake in Match Group in the first quarter worth $28,000. Principal Securities Inc. purchased a new position in Match Group during the 4th quarter valued at $31,000. Mather Group LLC. bought a new position in Match Group in the 1st quarter worth $33,000. Fidelis Capital Partners LLC purchased a new stake in shares of Match Group in the 1st quarter worth about $33,000. Finally, GAMMA Investing LLC bought a new stake in shares of Match Group during the 4th quarter valued at about $55,000. 94.05% of the stock is owned by hedge funds and other 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.