Match Group Inc. (NASDAQ:MTCH) Receives $35.86 Average Price Target from Analysts

Match Group Inc. (NASDAQ:MTCH) has earned a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $35.8571.

Several analysts have issued reports on MTCH shares. Morgan Stanley set a $35.00 target price on Match Group in a report on Wednesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Match Group in a report on Friday, March 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. Truist Financial dropped their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Match Group in a research report on Wednesday, December 10th.

Match Group Price Performance

MTCH opened at $30.81 on Tuesday. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. The company’s 50 day simple moving average is $31.02 and its two-hundred day simple moving average is $32.69. Match Group has a 1-year low of $26.39 and a 1-year high of $39.20.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The company had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. During the same quarter last year, the company earned $0.59 earnings per share. Match Group’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Match Group will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be paid a $0.20 dividend. This is a positive change from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. Match Group’s dividend payout ratio is currently 31.93%.

Institutional Trading of Match Group

Institutional investors have recently made changes to their positions in the company. Woodline Partners LP purchased a new position in Match Group in the first quarter worth approximately $662,000. Creative Planning raised its position in Match Group by 38.2% in the second quarter. Creative Planning now owns 22,516 shares of the technology company’s stock valued at $696,000 after purchasing an additional 6,225 shares during the period. Intech Investment Management LLC acquired a new position in shares of Match Group in the 2nd quarter valued at $754,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Match Group by 21.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 6,203 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Match Group by 6.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 54,400 shares of the technology company’s stock worth $1,680,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.