Match Group, Inc. (NASDAQ:MTCH) Receives $40.90 Average Target Price from Analysts

Shares of Match Group, Inc. (NASDAQ:MTCH) have been given an average rating of “Moderate Buy” by the twenty-one brokerages that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.90.

A number of equities analysts have recently commented on MTCH shares. Wolfe Research assumed coverage on shares of Match Group in a report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price objective for the company. HSBC raised Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective on the stock in a report on Monday, August 5th. Evercore ISI raised Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company dropped their price objective on Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. increased its position in Match Group by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after purchasing an additional 297 shares during the period. Fulton Bank N.A. grew its position in shares of Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after buying an additional 299 shares during the period. Empirical Finance LLC raised its stake in shares of Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after buying an additional 326 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after acquiring an additional 357 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 455 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Trading Up 4.5 %

Shares of NASDAQ MTCH opened at $31.94 on Friday. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.63 and a beta of 1.51. Match Group has a one year low of $27.66 and a one year high of $42.42. The business has a fifty day simple moving average of $36.70 and a 200 day simple moving average of $33.99.

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.