Match Group (NASDAQ:MTCH) Lowered to “Equal Weight” at Morgan Stanley

Match Group (NASDAQ:MTCH) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday, Marketbeat reports. They currently have a $37.00 price objective on the technology company’s stock, down from their prior price objective of $53.00. Morgan Stanley’s price objective points to a potential upside of 14.62% from the company’s current price.

A number of other research analysts have also commented on MTCH. KeyCorp upped their target price on Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Raymond James began coverage on Match Group in a research note on Thursday, April 4th. They set a “market perform” rating for the company. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Piper Sandler reiterated an “overweight” rating and set a $45.00 price objective on shares of Match Group in a research note on Wednesday, March 27th. Finally, Citigroup increased their price objective on Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Match Group has an average rating of “Moderate Buy” and an average target price of $43.95.

Match Group Trading Up 1.7 %

Shares of NASDAQ MTCH opened at $32.28 on Thursday. The business has a fifty day simple moving average of $35.12 and a 200 day simple moving average of $34.87. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.51 and a beta of 1.41. Match Group has a one year low of $27.85 and a one year high of $49.24.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, January 30th. The technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.32. The business 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%. Match Group’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. On average, research analysts anticipate that Match Group will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Match Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new position in Match Group during the fourth quarter worth about $31,000. Mather Group LLC. acquired a new stake in shares of Match Group during the first quarter worth about $33,000. State of Wyoming acquired a new stake in shares of Match Group during the second quarter worth about $38,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Match Group during the third quarter worth about $40,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Match Group by 46.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock worth $42,000 after purchasing an additional 361 shares during the period. Institutional investors own 94.05% of the company’s stock.

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.