Zacks Investment Research upgraded shares of Match Group (NASDAQ:MTCH) from a strong sell rating to a strong-buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $47.00 target price on the technology company’s stock.
According to Zacks, “Match Group, Inc. offers subscription-based online dating websites and applications services. The company’s dating products brands consists of Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime and FriendScout24. Match Group, Inc. is headquartered in Dallas, Texas. “
Other research analysts have also recently issued research reports about the company. BMO Capital Markets lifted their target price on Match Group from $35.00 to $42.00 and gave the company an outperform rating in a report on Thursday, February 8th. Citigroup lifted their target price on Match Group from $35.00 to $40.00 and gave the company a buy rating in a report on Friday, February 9th. Deutsche Bank lifted their target price on Match Group to $43.00 and gave the company a buy rating in a report on Friday, May 11th. Barclays lifted their target price on Match Group from $30.00 to $37.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Finally, Aegis reiterated a buy rating and issued a $45.00 target price (up previously from $42.00) on shares of Match Group in a report on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Match Group has an average rating of Buy and an average target price of $38.63.
Shares of Match Group stock opened at $40.75 on Tuesday. Match Group has a twelve month low of $16.57 and a twelve month high of $48.65. The firm has a market capitalization of $10.89 billion, a P/E ratio of 78.37, a PEG ratio of 2.71 and a beta of 0.28. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.36 and a current ratio of 1.36.
Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, May 8th. The technology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Match Group had a return on equity of 39.06% and a net margin of 29.86%. The firm had revenue of $407.40 million for the quarter, compared to analysts’ expectations of $384.81 million. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. equities research analysts predict that Match Group will post 1.17 EPS for the current year.
In other Match Group news, Director Ann Mcdaniel sold 5,676 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $40.09, for a total value of $227,550.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory R. Blatt sold 456,673 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $39.71, for a total value of $18,134,484.83. Following the completion of the transaction, the director now directly owns 2,504,859 shares in the company, valued at $99,467,950.89. The disclosure for this sale can be found here. Insiders sold 469,430 shares of company stock worth $18,644,851 over the last three months. 18.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MTCH. Dimensional Fund Advisors LP increased its position in shares of Match Group by 17.7% during the third quarter. Dimensional Fund Advisors LP now owns 187,898 shares of the technology company’s stock worth $4,358,000 after acquiring an additional 28,238 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Match Group by 2,627.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,737 shares of the technology company’s stock worth $117,000 after acquiring an additional 3,600 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Match Group by 28.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 184,402 shares of the technology company’s stock worth $5,774,000 after acquiring an additional 40,519 shares during the last quarter. IFP Advisors Inc increased its position in shares of Match Group by 61.7% during the fourth quarter. IFP Advisors Inc now owns 6,912 shares of the technology company’s stock worth $216,000 after acquiring an additional 2,638 shares during the last quarter. Finally, Rathbone Brothers plc purchased a new stake in shares of Match Group during the fourth quarter worth about $21,103,000. 22.36% of the stock is currently owned by institutional investors and hedge funds.
About Match Group
Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.
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