Match Group (NASDAQ:MTCH) Price Target Increased to $47.00 by Analysts at Royal Bank of Canada

Match Group (NASDAQ:MTCH) had its price target boosted by Royal Bank of Canada from $33.00 to $47.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the stock. Wolfe Research assumed coverage on shares of Match Group in a report on Tuesday, July 16th. They issued an outperform rating and a $36.00 price objective for the company. UBS Group reduced their price objective on Match Group from $40.00 to $36.00 and set a neutral rating for the company in a report on Thursday, May 9th. Morgan Stanley dropped their price target on shares of Match Group from $34.00 to $33.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Citigroup decreased their price objective on shares of Match Group from $34.00 to $33.00 and set a neutral rating for the company in a report on Monday, July 15th. Finally, Susquehanna dropped their target price on shares of Match Group from $46.00 to $45.00 and set a positive rating on the stock in a report on Monday, May 13th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group currently has an average rating of Moderate Buy and a consensus price target of $42.07.

Match Group Stock Down 2.7 %

MTCH stock traded down $1.00 during mid-day trading on Thursday, reaching $35.67. 3,893,370 shares of the company traded hands, compared to its average volume of 5,763,295. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $47.81. The firm’s 50 day moving average price is $31.84 and its 200 day moving average price is $33.40. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.64 and a beta of 1.48.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $864.07 million during the quarter, compared to analyst estimates of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. On average, analysts anticipate that Match Group will post 2.05 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. National Bank of Canada FI lifted its position in shares of Match Group by 19.5% in the second quarter. National Bank of Canada FI now owns 71,993 shares of the technology company’s stock worth $2,112,000 after purchasing an additional 11,760 shares in the last quarter. TD Asset Management Inc increased its position in Match Group by 6.3% in the 2nd quarter. TD Asset Management Inc now owns 1,020,967 shares of the technology company’s stock worth $31,017,000 after purchasing an additional 60,169 shares during the last quarter. Novare Capital Management LLC raised its stake in shares of Match Group by 50.9% during the 2nd quarter. Novare Capital Management LLC now owns 223,927 shares of the technology company’s stock worth $6,803,000 after purchasing an additional 75,512 shares in the last quarter. Versor Investments LP bought a new stake in shares of Match Group in the 2nd quarter valued at approximately $365,000. Finally, Guidance Capital Inc. raised its position in Match Group by 12.7% during the second quarter. Guidance Capital Inc. now owns 26,078 shares of the technology company’s stock valued at $792,000 after acquiring an additional 2,941 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.