Match Group (NASDAQ:MTCH) Price Target Cut to $134.00

Match Group (NASDAQ:MTCHGet Rating) had its price target decreased by equities researchers at Cowen from $150.00 to $134.00 in a research report issued to clients and investors on Thursday, The Fly reports. Cowen’s price target would indicate a potential upside of 73.82% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Truist Financial lowered their price target on Match Group from $190.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. Piper Sandler initiated coverage on Match Group in a report on Wednesday, January 12th. They set an “overweight” rating and a $160.00 price target on the stock. KeyCorp lowered their price target on Match Group from $176.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, January 31st. Morgan Stanley lowered their price target on Match Group from $177.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, February 3rd. Finally, Zacks Investment Research raised Match Group from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Tuesday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Match Group presently has an average rating of “Buy” and a consensus price target of $143.35.

Shares of MTCH opened at $77.09 on Thursday. The business’s fifty day simple moving average is $98.79 and its two-hundred day simple moving average is $121.88. Match Group has a 12 month low of $76.26 and a 12 month high of $182.00. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 89.64, a P/E/G ratio of 1.50 and a beta of 1.02.

Match Group (NASDAQ:MTCHGet Rating) last issued its earnings results on Tuesday, February 1st. The technology company reported ($0.60) EPS for the quarter, missing the consensus estimate of $0.53 by ($1.13). Match Group had a net margin of 9.31% and a negative return on equity of 69.07%. The business had revenue of $806.70 million for the quarter, compared to analysts’ expectations of $821.16 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. Equities analysts expect that Match Group will post 2.68 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Match Group by 3.9% during the fourth quarter. BlackRock Inc. now owns 23,609,487 shares of the technology company’s stock valued at $3,122,355,000 after purchasing an additional 889,561 shares in the last quarter. Edgewood Management LLC grew its position in shares of Match Group by 10.5% during the third quarter. Edgewood Management LLC now owns 15,025,342 shares of the technology company’s stock valued at $2,358,828,000 after purchasing an additional 1,428,188 shares in the last quarter. State Street Corp grew its position in shares of Match Group by 4.3% during the fourth quarter. State Street Corp now owns 12,434,435 shares of the technology company’s stock valued at $1,644,454,000 after purchasing an additional 513,954 shares in the last quarter. Lone Pine Capital LLC grew its position in shares of Match Group by 14.1% during the fourth quarter. Lone Pine Capital LLC now owns 8,872,280 shares of the technology company’s stock valued at $1,173,359,000 after purchasing an additional 1,098,413 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Match Group by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 5,272,334 shares of the technology company’s stock valued at $695,597,000 after purchasing an additional 300,318 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Match Group Company Profile (Get Rating)

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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