Match Group (NASDAQ:MTCH) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a $89.00 target price on the technology company’s stock. Oppenheimer’s price objective would indicate a potential upside of 20.11% from the stock’s current price.
A number of other equities analysts have also recently weighed in on MTCH. Citigroup began coverage on Match Group in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. Guggenheim reiterated a “hold” rating on shares of Match Group in a report on Tuesday, September 10th. Bank of America set a $102.00 price target on Match Group and gave the stock a “buy” rating in a report on Thursday, September 26th. ValuEngine cut Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets increased their price target on Match Group from $74.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Match Group currently has a consensus rating of “Buy” and an average target price of $92.75.
NASDAQ MTCH opened at $74.10 on Thursday. The stock has a market cap of $21.35 billion, a PE ratio of 47.47, a P/E/G ratio of 2.57 and a beta of 0.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 7.63. Match Group has a twelve month low of $33.30 and a twelve month high of $95.32. The stock has a fifty day simple moving average of $78.49 and a 200-day simple moving average of $71.38.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $489.16 million. Match Group had a return on equity of 166.69% and a net margin of 26.51%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. Research analysts predict that Match Group will post 1.77 EPS for the current year.
In related news, insider Jared F. Sine sold 24,641 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $81.58, for a total transaction of $2,010,212.78. Following the completion of the transaction, the insider now directly owns 39,649 shares in the company, valued at approximately $3,234,565.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Philip D. Eigenmann sold 7,057 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $84.49, for a total value of $596,245.93. Following the transaction, the chief accounting officer now owns 13,133 shares of the company’s stock, valued at $1,109,607.17. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Northern Oak Wealth Management Inc. purchased a new position in Match Group during the 2nd quarter valued at about $42,000. NEXT Financial Group Inc raised its position in Match Group by 850.0% in the 2nd quarter. NEXT Financial Group Inc now owns 950 shares of the technology company’s stock valued at $64,000 after purchasing an additional 850 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Match Group in the 2nd quarter valued at about $67,000. Point72 Hong Kong Ltd acquired a new stake in Match Group in the 2nd quarter valued at about $180,000. Finally, Captrust Financial Advisors raised its position in Match Group by 24.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,707 shares of the technology company’s stock valued at $182,000 after purchasing an additional 540 shares in the last quarter. Institutional investors own 22.81% of the company’s stock.
Match Group Company Profile
Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.
Read More: Return on Investment (ROI)
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