Barclays Cuts Match Group (NASDAQ:MTCH) Price Target to $53.00

Match Group (NASDAQ:MTCH) had its price target cut by equities researchers at Barclays from $55.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 75.15% from the company’s current price.

MTCH has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $38.00 price target on shares of Match Group in a research report on Wednesday, July 31st. Stifel Nicolaus increased their target price on Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen raised their price objective on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Susquehanna reduced their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Match Group Trading Down 2.7 %

Shares of NASDAQ MTCH traded down $0.85 during trading hours on Friday, reaching $30.26. The stock had a trading volume of 4,681,652 shares, compared to its average volume of 5,260,902. Match Group has a 52-week low of $27.66 and a 52-week high of $42.42. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.79 and a beta of 1.51. The business’s fifty day moving average price is $36.95 and its two-hundred day moving average price is $33.99.

Match Group (NASDAQ:MTCH) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $895.48 million during the quarter, compared to analysts’ expectations of $900.33 million. Match Group had a negative return on equity of 727.22% and a net margin of 17.86%. Equities research analysts anticipate that Match Group will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the last quarter. Quarry LP boosted its holdings in shares of Match Group by 54.5% in the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after acquiring an additional 461 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Match Group in the first quarter worth $57,000. Mather Group LLC. increased its stake in shares of Match Group by 87.6% in the second quarter. Mather Group LLC. now owns 1,700 shares of the technology company’s stock worth $52,000 after acquiring an additional 794 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.