Match Group (NASDAQ:MTCH) Shares Gap Up Following Analyst Upgrade

Match Group, Inc. (NASDAQ:MTCH) shares gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $55.00 to $60.00. The stock had previously closed at $43.30, but opened at $44.74. JPMorgan Chase & Co. currently has an overweight rating on the stock. Match Group shares last traded at $43.14, with a volume of 923,571 shares.

A number of other analysts have also recently commented on the company. Morgan Stanley lifted their target price on Match Group from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Piper Sandler lifted their target price on Match Group from $55.00 to $60.00 in a research report on Friday, July 14th. Royal Bank of Canada boosted their price target on Match Group from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Barclays boosted their price target on Match Group from $50.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, StockNews.com assumed coverage on Match Group in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Insider Transactions at Match Group

In other news, Director Ann Mcdaniel sold 8,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $45.82, for a total transaction of $400,237.70. Following the sale, the director now owns 12,516 shares of the company’s stock, valued at approximately $573,483.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 10,235 shares of company stock valued at $467,703 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Match Group

A number of institutional investors and hedge funds have recently bought and sold shares of MTCH. Capital Advisors Ltd. LLC purchased a new stake in Match Group in the 2nd quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV lifted its stake in Match Group by 53.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the technology company’s stock valued at $30,000 after buying an additional 248 shares in the last quarter. State of Wyoming purchased a new stake in Match Group in the 2nd quarter valued at approximately $38,000. Mine & Arao Wealth Creation & Management LLC. lifted its stake in Match Group by 683.6% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 956 shares of the technology company’s stock valued at $40,000 after buying an additional 834 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Match Group by 359.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,057 shares of the technology company’s stock valued at $44,000 after buying an additional 827 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Match Group Trading Down 1.8 %

The business has a 50 day moving average of $45.15 and a 200-day moving average of $40.07. The stock has a market cap of $11.82 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.81 and a beta of 1.36.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $830.00 million during the quarter, compared to the consensus estimate of $811.55 million. Match Group had a negative return on equity of 121.94% and a net margin of 14.68%. Match Group’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. On average, equities research analysts anticipate that Match Group, Inc. will post 1.98 EPS for the current fiscal year.

Match Group Company Profile

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