Citigroup Raises Match Group (NASDAQ:MTCH) Price Target to $39.00

Match Group (NASDAQ:MTCHFree Report) had its price objective raised by Citigroup from $32.00 to $39.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other research analysts have also issued reports about the company. Truist Financial reduced their target price on Match Group from $50.00 to $35.00 and set a hold rating on the stock in a research report on Friday, November 3rd. Susquehanna cut their price target on shares of Match Group from $55.00 to $39.00 and set a positive rating on the stock in a report on Thursday, November 2nd. KeyCorp raised their price target on shares of Match Group from $48.00 to $50.00 and gave the stock an overweight rating in a research report on Thursday. StockNews.com raised shares of Match Group from a hold rating to a buy rating in a report on Monday, November 6th. Finally, Royal Bank of Canada reduced their target price on shares of Match Group from $52.00 to $33.00 and set an outperform rating for the company in a report on Thursday, November 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Match Group presently has a consensus rating of Moderate Buy and a consensus target price of $47.37.

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Match Group Stock Performance

NASDAQ:MTCH opened at $37.42 on Thursday. The company’s 50-day simple moving average is $35.48 and its 200-day simple moving average is $38.19. Match Group has a fifty-two week low of $27.85 and a fifty-two week high of $50.94. The stock has a market capitalization of $10.17 billion, a P/E ratio of 16.41, a P/E/G ratio of 0.60 and a beta of 1.44.

Match Group (NASDAQ:MTCHGet Free Report) last announced its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.32. The company had revenue of $866.00 million during the quarter, compared to the consensus estimate of $861.31 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. Match Group’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. On average, research analysts forecast that Match Group will post 2.18 EPS for the current year.

Institutional Investors Weigh In On Match Group

Institutional investors have recently added to or reduced their stakes in the stock. Metis Global Partners LLC grew its position in shares of Match Group by 17.7% in the third quarter. Metis Global Partners LLC now owns 11,767 shares of the technology company’s stock valued at $461,000 after purchasing an additional 1,770 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Match Group by 266.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,376 shares of the technology company’s stock worth $1,503,000 after buying an additional 27,916 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Match Group by 44.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,206 shares of the technology company’s stock valued at $2,227,000 after acquiring an additional 16,346 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Match Group by 2.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,565 shares of the technology company’s stock valued at $2,032,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new stake in shares of Match Group in the second quarter worth approximately $767,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

Match Group Company Profile

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Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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