UBS Group Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price target lowered by investment analysts at UBS Group from $43.00 to $38.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price would indicate a potential upside of 24.35% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $38.00 price target on shares of Match Group in a report on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $35.00 price objective (down from $50.00) on shares of Match Group in a research report on Thursday. Finally, Wolfe Research initiated coverage on Match Group in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Match Group Price Performance

Match Group stock traded down $0.55 during trading hours on Friday, hitting $30.56. 10,143,629 shares of the stock traded hands, compared to its average volume of 4,311,218. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.63 and a beta of 1.51. The firm’s 50 day moving average price is $36.70 and its 200-day moving average price is $33.96.

Institutional Trading of Match Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. increased its position in shares of Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after purchasing an additional 297 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares in the last quarter. Empirical Finance LLC increased its position in shares of Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after purchasing an additional 326 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after purchasing an additional 357 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 455 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.