Match Group (NASDAQ:MTCH) Stock Rating Lowered by Wall Street Zen

Match Group (NASDAQ:MTCH) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts have also commented on MTCH. Susquehanna reiterated a “positive” rating on shares of Match Group in a research report on Wednesday. Wells Fargo & Company lifted their price objective on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Morgan Stanley set a $40.00 price objective on Match Group in a research report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Finally, UBS Group raised their price target on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.54.

Match Group Price Performance

NASDAQ:MTCH opened at $37.26 on Friday. Match Group has a 52-week low of $28.81 and a 52-week high of $41.40. The stock has a fifty day simple moving average of $37.34 and a 200-day simple moving average of $34.42. The company has a market capitalization of $8.69 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.58 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same period in the prior year, the company earned $0.49 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Match Group will post 3.11 earnings per share for the current year.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Match Group in the 2nd quarter valued at $1,087,055,000. State Street Corp boosted its holdings in shares of Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after purchasing an additional 162,330 shares during the last quarter. Starboard Value LP grew its position in shares of Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after purchasing an additional 325,000 shares during the period. Finally, Invesco Ltd. grew its position in shares of Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after purchasing an additional 872,524 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Match Group

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.