Match Group (NASDAQ:MTCH) Downgraded by Morgan Stanley

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

Several other equities research analysts also recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price target on shares of Match Group in a research report on Wednesday, March 27th. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. cut their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Raymond James assumed coverage on Match Group in a research report on Thursday, April 4th. They set a “market perform” rating on the stock. Finally, UBS Group lifted their price target on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.95.

Match Group Price Performance

Shares of MTCH stock opened at $32.18 on Thursday. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41. The business has a fifty day moving average of $35.00 and a 200 day moving average of $34.81. Match Group has a 1 year low of $27.85 and a 1 year high of $49.24.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. The company had revenue of $866.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. As a group, equities research analysts expect that Match Group will post 2.17 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

Several large investors have recently bought and sold shares of MTCH. Moneta Group Investment Advisors LLC increased its stake in Match Group by 107,412.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock worth $984,604,000 after buying an additional 23,709,043 shares in the last quarter. Boston Partners acquired a new position in shares of Match Group during the 3rd quarter worth approximately $276,406,000. Norges Bank acquired a new position in shares of Match Group during the 4th quarter worth approximately $112,903,000. Bank of Nova Scotia boosted its holdings in shares of Match Group by 17,295.4% during the 4th quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock worth $78,678,000 after purchasing an additional 2,143,240 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Match Group by 34.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after purchasing an additional 2,130,646 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.