Match Group (NASDAQ:MTCH) Price Target Raised to $36.00 at Bank of America

Match Group (NASDAQ:MTCH) had its price objective lifted by stock analysts at Bank of America from $35.00 to $36.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 14.47% from the company’s current price.

MTCH has been the topic of several other research reports. KeyCorp cut their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley reduced their price target on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. UBS Group lowered their price objective on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Truist Financial reduced their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, November 8th. Finally, Barclays lowered their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.06.

Match Group Price Performance

MTCH stock opened at $31.45 on Thursday. The company’s 50-day moving average is $34.35 and its 200-day moving average is $34.12. The stock has a market capitalization of $7.90 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42.

Match Group declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Match Group

Several hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after acquiring an additional 391,977 shares during the period. Starboard Value LP bought a new position in Match Group during the third quarter worth about $361,605,000. Pacer Advisors Inc. boosted its position in Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after purchasing an additional 2,940,667 shares during the period. FMR LLC increased its stake in shares of Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after purchasing an additional 524,144 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Match Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after purchasing an additional 12,379 shares during the period. 94.05% of the stock is currently owned by 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.