Match Group (NASDAQ:MTCH) Upgraded to “Buy” at The Goldman Sachs Group

Match Group (NASDAQ:MTCH) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Thursday, Analyst Ratings Network reports. The firm presently has a $157.00 target price on the technology company’s stock, down from their previous target price of $162.00. The Goldman Sachs Group’s price target would suggest a potential upside of 29.59% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Barclays boosted their price target on shares of Match Group from $148.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 4th. BMO Capital Markets reduced their target price on shares of Match Group from $160.00 to $150.00 and set a “market perform” rating for the company in a report on Thursday, November 4th. Piper Sandler started coverage on shares of Match Group in a report on Wednesday. They issued an “overweight” rating and a $160.00 target price for the company. Finally, Wolfe Research started coverage on shares of Match Group in a report on Tuesday, January 4th. They set an “outperform” rating and a $163.00 price target for the company. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $167.11.

Shares of MTCH stock opened at $121.15 on Thursday. The firm has a market capitalization of $34.30 billion, a price-to-earnings ratio of 62.45, a price-to-earnings-growth ratio of 3.13 and a beta of 0.98. The business has a fifty day moving average of $133.68 and a 200 day moving average of $147.12. Match Group has a 1 year low of $118.51 and a 1 year high of $182.00.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, November 2nd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.09). Match Group had a negative return on equity of 90.70% and a net margin of 20.75%. The firm had revenue of $801.84 million during the quarter, compared to analyst estimates of $801.22 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities analysts predict that Match Group will post 2.08 earnings per share for the current year.

In related news, Director Joseph Levin sold 163,220 shares of the business’s stock in a transaction that occurred on Thursday, October 21st. The shares were sold at an average price of $174.73, for a total value of $28,519,430.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of MTCH. Spire Wealth Management raised its stake in Match Group by 7.8% during the 4th quarter. Spire Wealth Management now owns 1,788 shares of the technology company’s stock valued at $236,000 after purchasing an additional 130 shares during the last quarter. Scout Investments Inc. lifted its position in Match Group by 48.5% during the 4th quarter. Scout Investments Inc. now owns 174,680 shares of the technology company’s stock worth $23,101,000 after buying an additional 57,032 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Match Group by 4.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the technology company’s stock worth $4,338,000 after buying an additional 1,300 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Match Group by 289.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 76,415 shares of the technology company’s stock worth $10,106,000 after buying an additional 56,782 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in Match Group by 66.3% during the 4th quarter. First Hawaiian Bank now owns 10,961 shares of the technology company’s stock valued at $1,449,000 after purchasing an additional 4,368 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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