Match Group (MTCH) Shares Up 6.3% After Analyst Upgrade
Match Group Inc (NASDAQ:MTCH)’s share price shot up 6.3% on Thursday after Aegis raised their price target on the stock from $55.00 to $65.00. Aegis currently has a buy rating on the stock. Match Group traded as high as $59.97 and last traded at $59.58. 4,843,027 shares traded hands during trading, an increase of 95% from the average session volume of 2,482,659 shares. The stock had previously closed at $56.05.
Several other equities analysts have also weighed in on MTCH. BidaskClub lowered shares of Match Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 27th. Barclays lifted their target price on shares of Match Group from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. ValuEngine lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Wells Fargo & Co lifted their target price on shares of Match Group from $41.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research upgraded shares of Match Group from a “strong sell” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Tuesday, May 15th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Match Group presently has a consensus rating of “Buy” and a consensus price target of $43.94.
In other Match Group news, CFO Gary Swidler sold 105,611 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $49.57, for a total value of $5,235,137.27. Following the transaction, the chief financial officer now owns 266,010 shares in the company, valued at approximately $13,186,115.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanda Ginsberg sold 106,850 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the completion of the transaction, the chief executive officer now owns 62,682 shares in the company, valued at approximately $3,094,610.34. The disclosure for this sale can be found here. Insiders sold a total of 251,000 shares of company stock worth $12,382,872 in the last quarter. 7.00% of the stock is currently owned by company insiders.
The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $15.13 billion, a P/E ratio of 109.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.40.
Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $421.20 million for the quarter, compared to analyst estimates of $413.07 million. Match Group had a net margin of 32.94% and a return on equity of 53.18%. research analysts expect that Match Group Inc will post 1.23 earnings per share for the current year.
Match Group Company Profile (NASDAQ:MTCH)
Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.
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