Match Group (NASDAQ:MTCH – Free Report) had its target price boosted by Wells Fargo & Company from $30.00 to $38.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.
Several other analysts also recently weighed in on the company. Barclays upped their price objective on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price objective on shares of Match Group in a research report on Wednesday. TD Cowen upped their price objective on Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus target price of $41.07.
Check Out Our Latest Report on Match Group
Match Group Stock Performance
Match Group (NASDAQ:MTCH – Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.17). Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The business had revenue of $878.01 million for the quarter, compared to the consensus estimate of $872.86 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. Match Group’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Match Group will post 3.05 EPS for the current fiscal year.
Match Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s dividend payout ratio is presently 30.53%.
Insider Transactions at Match Group
In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Match Group
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock worth $317,000 after purchasing an additional 311 shares in the last quarter. Bollard Group LLC increased its holdings in Match Group by 0.6% in the 3rd quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock worth $1,938,000 after purchasing an additional 317 shares in the last quarter. True Wealth Design LLC increased its holdings in Match Group by 12.8% in the 4th quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock worth $91,000 after purchasing an additional 320 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Match Group by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after purchasing an additional 326 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.
Match Group News Roundup
Here are the key news stories impacting Match Group this week:
- Positive Sentiment: Match Group reported first-quarter revenue of $864 million, topping expectations and helping reinforce the view that the business is still growing despite broader dating-app headwinds. Match Group Posts $864 Million Revenue Beat As Tinder Decline Slows
- Positive Sentiment: Investor attention is also centered on management’s Q1 call, which highlighted continued growth in parts of the portfolio alongside efforts to address operating challenges. Match Group Earnings Call Balances Growth And Headwinds
- Positive Sentiment: Wells Fargo raised its view on Match Group with a new $38 price target, suggesting analysts see more upside after the earnings report. Match Group Given New $38.00 Price Target at Wells Fargo & Company
- Neutral Sentiment: Coverage from other outlets noted mixed analyst opinions on Match Group, indicating sentiment remains divided even after the latest results. Analysts’ Opinions Are Mixed on These Communication Services Stocks: Match Group (MTCH) and Bumble (BMBL)
- Neutral Sentiment: Match Group’s CEO also drew attention for reviving a Tinder internship program that attracted more than 30,000 applications, but this is more of a brand and talent story than a direct financial catalyst. Match Group’s CEO revived a shuttered Tinder internship program for Gen Z—and received over 30,000 applications for just 27 spots
- Negative Sentiment: One market note said Match Group underperformed peers on Thursday, showing investors are still weighing the company’s longer-term growth concerns. Match Group Inc. stock underperforms Thursday when compared to competitors
Match Group Company Profile
Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.
Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.
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