Match Group (NASDAQ:MTCH) Stock Rating Upgraded by The Goldman Sachs Group

Match Group (NASDAQ:MTCH) was upgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, PriceTargets.com reports. The brokerage presently has a $157.00 target price on the technology company’s stock, down from their prior target price of $162.00. The Goldman Sachs Group’s target price indicates a potential upside of 29.59% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets reduced their target price on shares of Match Group from $160.00 to $150.00 and set a “market perform” rating for the company in a report on Thursday, November 4th. Piper Sandler began coverage on shares of Match Group in a report on Wednesday. They issued an “overweight” rating and a $160.00 target price for the company. Wolfe Research began coverage on shares of Match Group in a report on Tuesday, January 4th. They set an “outperform” rating and a $163.00 price target for the company. Finally, Barclays increased their price target on shares of Match Group from $148.00 to $153.00 and gave the stock an “equal weight” rating in a report on Thursday, November 4th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $167.11.

Match Group stock opened at $121.15 on Thursday. The firm has a 50 day moving average price of $133.68 and a 200 day moving average price of $147.12. The company has a market capitalization of $34.30 billion, a PE ratio of 62.45, a price-to-earnings-growth ratio of 3.13 and a beta of 0.98. Match Group has a fifty-two week low of $118.51 and a fifty-two week high of $182.00.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, November 2nd. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). The firm had revenue of $801.84 million for the quarter, compared to analyst estimates of $801.22 million. Match Group had a negative return on equity of 90.70% and a net margin of 20.75%. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, research analysts predict that Match Group will post 2.08 earnings per share for the current year.

In other Match Group news, Director Joseph Levin sold 163,220 shares of the firm’s stock in a transaction on Thursday, October 21st. The shares were sold at an average price of $174.73, for a total transaction of $28,519,430.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new stake in Match Group in the 3rd quarter valued at about $25,000. Parisi Gray Wealth Management bought a new stake in shares of Match Group during the 2nd quarter worth about $26,000. Parkside Financial Bank & Trust raised its position in shares of Match Group by 518.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 167 shares of the technology company’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Match Group by 1,767.1% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the technology company’s stock worth $27,000 after buying an additional 23,661 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Match Group by 220.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 256 shares of the technology company’s stock worth $41,000 after buying an additional 176 shares in the last quarter. 96.20% 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. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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