Match Group (NASDAQ:MTCH) Price Target Cut to $46.00

Match Group (NASDAQ:MTCH) had its price target dropped by investment analysts at KeyCorp from $50.00 to $46.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target indicates a potential upside of 45.99% from the stock’s previous close.

A number of other research analysts also recently commented on MTCH. StockNews.com upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Raymond James initiated coverage on shares of Match Group in a research note on Thursday, April 4th. They issued a “market perform” rating for the company. Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $37.00 in a report on Thursday, April 18th. JPMorgan Chase & Co. lowered their price target on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Finally, UBS Group boosted their price objective on Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and an average price target of $42.82.

Match Group Trading Down 2.3 %

Shares of Match Group stock opened at $31.51 on Monday. The firm has a market cap of $8.44 billion, a PE ratio of 13.82, a PEG ratio of 0.51 and a beta of 1.43. The stock has a 50 day moving average of $33.77 and a 200 day moving average of $34.34. Match Group has a 12 month low of $27.85 and a 12 month high of $49.24.

Hedge Funds Weigh In On Match Group

Institutional investors have recently modified their holdings of the stock. Metis Global Partners LLC grew its stake in Match Group by 17.7% in the third quarter. Metis Global Partners LLC now owns 11,767 shares of the technology company’s stock worth $461,000 after purchasing an additional 1,770 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Match Group by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,045,186 shares of the technology company’s stock worth $37,961,000 after buying an additional 191,615 shares in the last quarter. Scharf Investments LLC purchased a new position in shares of Match Group during the fourth quarter valued at $31,526,000. American Century Companies Inc. raised its holdings in shares of Match Group by 13.9% in the third quarter. American Century Companies Inc. now owns 1,509,954 shares of the technology company’s stock valued at $59,152,000 after acquiring an additional 184,325 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Match Group by 4,348.2% in the fourth quarter. International Assets Investment Management LLC now owns 79,935 shares of the technology company’s stock worth $2,918,000 after acquiring an additional 78,138 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.