Royal Bank of Canada Cuts Match Group (NASDAQ:MTCH) Price Target to $115.00

Match Group (NASDAQ:MTCH – Get Rating) had its target price lowered by analysts at Royal Bank of Canada from $150.00 to $115.00 in a research note issued to investors on Thursday, The Fly reports. Royal Bank of Canada’s price objective suggests a potential upside of 55.26% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Truist Financial decreased their price objective on shares of Match Group from $190.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Piper Sandler reduced their target price on shares of Match Group from $160.00 to $125.00 in a research report on Wednesday. StockNews.com upgraded shares of Match Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Match Group in a research report on Friday, March 11th. They set a “buy” rating and a $135.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Match Group from $165.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 26th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $132.88.

Shares of Match Group stock opened at $74.07 on Thursday. The stock has a market capitalization of $21.12 billion, a price-to-earnings ratio of 83.23, a P/E/G ratio of 1.13 and a beta of 1.18. Match Group has a 1-year low of $69.28 and a 1-year high of $182.00. The firm’s 50-day moving average price is $94.60 and its two-hundred day moving average price is $118.04.

Match Group (NASDAQ:MTCH – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $798.63 million for the quarter, compared to analysts’ expectations of $795.03 million. Match Group had a net margin of 9.12% and a negative return on equity of 220.83%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. As a group, equities analysts expect that Match Group will post 2.64 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of MTCH. BlackRock Inc. increased its stake in Match Group by 37.2% in the third quarter. BlackRock Inc. now owns 22,719,926 shares of the technology company’s stock valued at $3,566,801,000 after purchasing an additional 6,156,506 shares in the last quarter. Norges Bank bought a new stake in Match Group in the fourth quarter valued at approximately $324,212,000. Edgewood Management LLC increased its stake in Match Group by 10.5% in 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. Geode Capital Management LLC increased its position in shares of Match Group by 32.4% during the third quarter. Geode Capital Management LLC now owns 4,972,016 shares of the technology company’s stock worth $778,575,000 after acquiring an additional 1,216,985 shares in the last quarter. Finally, Lone Pine Capital LLC increased 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 worth $1,173,359,000 after acquiring an additional 1,098,413 shares in the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

About Match Group (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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