Zacks Research Upgrades Match Group (NASDAQ:MTCH) to Strong-Buy

Match Group (NASDAQ:MTCH) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Wells Fargo & Company upped their target price 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. TD Cowen dropped their price objective on shares of Match Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Susquehanna restated a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. UBS Group boosted their price objective on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Barclays lifted their target price on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.54.

Match Group Stock Down 0.6%

Shares of NASDAQ MTCH opened at $36.58 on Tuesday. Match Group has a 12-month low of $28.81 and a 12-month high of $41.40. The firm has a market cap of $8.53 billion, a PE ratio of 12.93, a P/E/G ratio of 0.54 and a beta of 1.30. The company’s fifty day simple moving average is $37.41 and its 200 day simple moving average is $34.54.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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 company had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Match Group will post 3.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Match Group in the 2nd quarter worth about $1,141,000. Greenland Capital Management LP purchased a new stake in Match Group during the second quarter valued at about $276,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Match Group during the second quarter valued at about $175,000. Evolve Private Wealth LLC bought a new position in Match Group during the second quarter worth about $3,276,000. Finally, Landscape Capital Management L.L.C. bought a new position in Match Group during the second quarter worth about $9,625,000. Institutional investors own 94.05% of the company’s stock.

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.