Match Group’s (MTCH) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Match Group (NASDAQ:MTCH) in a report released on Wednesday morning, Benzinga reports. The firm currently has a $45.00 price objective on the technology company’s stock.

Several other equities analysts have also weighed in on the stock. UBS Group lifted their target price on shares of Match Group from $35.00 to $38.00 and gave the company a neutral rating in a report on Friday, January 26th. JPMorgan Chase & Co. decreased their target price on Match Group from $60.00 to $55.00 and set an overweight rating for the company in a research report on Thursday, February 1st. Wells Fargo & Company started coverage on Match Group in a research note on Thursday, December 7th. They issued an equal weight rating and a $32.00 target price for the company. Citigroup boosted their price target on Match Group from $32.00 to $39.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. Finally, KeyCorp increased their price objective on shares of Match Group from $48.00 to $50.00 and gave the company an overweight rating in a research report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Match Group has a consensus rating of Moderate Buy and an average target price of $46.58.

Match Group Trading Up 0.6 %

MTCH stock opened at $35.88 on Wednesday. The company has a market cap of $9.62 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.56 and a beta of 1.41. The stock has a 50-day moving average price of $35.97 and a two-hundred day moving average price of $35.68. Match Group has a 12-month low of $27.85 and a 12-month high of $49.24.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. The business had revenue of $866.00 million during the quarter, compared to analysts’ expectations of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts forecast that Match Group will post 2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Match Group

A number of institutional investors have recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its stake in Match Group by 17.7% during the third quarter. Metis Global Partners LLC now owns 11,767 shares of the technology company’s stock valued at $461,000 after purchasing an additional 1,770 shares during the last quarter. Nordea Investment Management AB boosted its stake 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 acquiring an additional 191,615 shares in the last quarter. Scharf Investments LLC acquired a new position in shares of Match Group in the 4th quarter worth $31,526,000. American Century Companies Inc. raised its position in shares of Match Group by 13.9% during the third quarter. American Century Companies Inc. now owns 1,509,954 shares of the technology company’s stock worth $59,152,000 after purchasing an additional 184,325 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Match Group by 237.3% during the third quarter. Canada Pension Plan Investment Board now owns 929,700 shares of the technology company’s stock valued at $36,421,000 after purchasing an additional 654,105 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Match Group

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.