Morgan Stanley Downgrades Match Group (NASDAQ:MTCH) to Equal Weight

Match Group (NASDAQ:MTCH) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $37.00 price target on the technology company’s stock, down from their previous price target of $53.00. Morgan Stanley’s target price indicates a potential upside of 14.98% from the stock’s previous close.

Other analysts have also issued research reports about the company. Raymond James initiated coverage on Match Group in a report on Thursday, April 4th. They issued a “market perform” rating for the company. Citigroup lifted their target price on Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. reduced their target price on Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. KeyCorp lifted their target price on Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.95.

Match Group Trading Down 0.1 %

Shares of NASDAQ:MTCH opened at $32.18 on Thursday. The stock has a fifty day simple moving average of $35.00 and a two-hundred day simple moving average of $34.81. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 0.51 and a beta of 1.41. Match Group has a 12-month low of $27.85 and a 12-month high of $49.24.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. As a group, equities research analysts predict that Match Group will post 2.17 EPS for the current year.

Institutional Trading of Match Group

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Match Group by 5.6% during the first quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock valued at $1,372,412,000 after purchasing an additional 1,889,531 shares during the period. Vanguard Group Inc. grew its holdings in Match Group by 1.7% during the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after purchasing an additional 500,418 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Match Group by 107,412.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock valued at $984,604,000 after acquiring an additional 23,709,043 shares in the last quarter. State Street Corp lifted its position in shares of Match Group by 0.5% in the first quarter. State Street Corp now owns 12,492,462 shares of the technology company’s stock valued at $1,358,430,000 after acquiring an additional 58,027 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after acquiring an additional 2,130,646 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.