TD Cowen Lowers Match Group (NASDAQ:MTCH) Price Target to $44.00

Match Group (NASDAQ:MTCH) had its target price cut by investment analysts at TD Cowen from $46.00 to $44.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. TD Cowen’s target price would suggest a potential upside of 44.26% from the stock’s current price.

A number of other brokerages have also weighed in on MTCH. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price on shares of Match Group in a research report on Wednesday, March 27th. Citigroup increased their target price on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. KeyCorp lowered their target price on Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wells Fargo & Company decreased their price objective on Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has an average rating of “Moderate Buy” and a consensus target price of $42.22.

Match Group Price Performance

NASDAQ MTCH traded up $0.68 on Thursday, hitting $30.50. 3,280,027 shares of the stock were exchanged, compared to its average volume of 5,771,709. Match Group has a 52 week low of $27.66 and a 52 week high of $49.24. The business’s fifty day moving average is $33.77 and its 200 day moving average is $34.34. The company has a market capitalization of $8.17 billion, a PE ratio of 13.29, a P/E/G ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $860.00 million during the quarter, compared to analyst estimates of $855.77 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Analysts predict that Match Group will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Match Group by 34.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after acquiring an additional 2,130,646 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Match Group by 5.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock valued at $301,798,000 after acquiring an additional 377,745 shares in the last quarter. Boston Partners acquired a new position in Match Group during the third quarter worth $276,406,000. Edmond DE Rothschild Holding S.A. boosted its position in Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after buying an additional 943,894 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Match Group by 4.0% during the third quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock worth $158,176,000 after purchasing an additional 156,465 shares during the last quarter. Institutional investors and hedge funds 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.