Match Group (MTCH) Coverage Initiated at Evercore ISI

Equities research analysts at Evercore ISI began coverage on shares of Match Group (NASDAQ:MTCH) in a research report issued to clients and investors on Tuesday. The brokerage set an “outperform” rating and a $34.00 price target on the technology company’s stock. Evercore ISI’s price target points to a potential upside of 18.55% from the stock’s current price.

Several other analysts also recently issued reports on MTCH. Jefferies Group reiterated a “buy” rating and issued a $28.00 price target on shares of Match Group in a report on Saturday, September 30th. BMO Capital Markets increased their price target on Match Group from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $33.00 price target (up from $28.00) on shares of Match Group in a report on Wednesday, November 8th. CIBC reiterated a “market perform” rating on shares of Match Group in a report on Thursday, November 9th. Finally, Oppenheimer downgraded Match Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.09.

Shares of Match Group (MTCH) opened at $28.68 on Tuesday. Match Group has a twelve month low of $15.42 and a twelve month high of $32.87. The stock has a market capitalization of $7,738.25, a price-to-earnings ratio of 48.02, a P/E/G ratio of 3.60 and a beta of 0.77. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.92 and a quick ratio of 0.92.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). Match Group had a net margin of 34.06% and a return on equity of 31.18%. The company had revenue of $343.40 million during the quarter, compared to analyst estimates of $329.19 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts anticipate that Match Group will post 0.63 earnings per share for the current year.

In other news, Director Ann Mcdaniel sold 11,119 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.10% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Match Group by 34.8% during the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after acquiring an additional 1,617,950 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Match Group by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock valued at $93,457,000 after acquiring an additional 20,060 shares in the last quarter. Light Street Capital Management LLC acquired a new stake in shares of Match Group during the second quarter valued at about $39,974,000. Voya Investment Management LLC grew its stake in shares of Match Group by 16.4% during the second quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock valued at $29,095,000 after acquiring an additional 235,355 shares in the last quarter. Finally, Mik Capital LLC acquired a new position in Match Group in the second quarter worth about $23,043,000. Institutional investors own 21.03% of the company’s stock.

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About Match Group

Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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