Match Group (NASDAQ:MTCH) Upgraded to “Buy” by HSBC

HSBC upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $43.20 price target on the technology company’s stock.

MTCH has been the subject of several other research reports. Wolfe Research began coverage on shares of Match Group in a research report on Tuesday, July 16th. They set an outperform rating and a $36.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Match Group from $34.00 to $39.00 and gave the stock a hold rating in a research note on Thursday, August 1st. UBS Group decreased their price objective on shares of Match Group from $40.00 to $36.00 and set a neutral rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company cut their target price on Match Group from $31.00 to $30.00 and set an equal weight rating on the stock in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $38.00 target price on shares of Match Group in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Match Group has a consensus rating of Moderate Buy and a consensus target price of $42.07.

Match Group Trading Down 0.2 %

Shares of MTCH stock opened at $34.87 on Monday. The company has a market cap of $9.26 billion, a P/E ratio of 15.16, a PEG ratio of 0.63 and a beta of 1.48. The firm has a fifty day moving average price of $32.30 and a 200 day moving average price of $33.42. Match Group has a 12 month low of $27.66 and a 12 month high of $47.81.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The business had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. During the same period in the prior year, the firm posted $0.48 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Match Group will post 1.98 EPS for the current year.

Institutional Investors Weigh In On Match Group

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Match Group by 0.6% in the 4th quarter. Arizona State Retirement System now owns 76,429 shares of the technology company’s stock valued at $2,790,000 after buying an additional 459 shares during the period. International Assets Investment Management LLC lifted its holdings in Match Group by 4,348.2% in the fourth quarter. International Assets Investment Management LLC now owns 79,935 shares of the technology company’s stock valued at $2,918,000 after acquiring an additional 78,138 shares during the period. New York State Teachers Retirement System boosted its position in shares of Match Group by 1.7% during the 4th quarter. New York State Teachers Retirement System now owns 251,696 shares of the technology company’s stock worth $9,187,000 after purchasing an additional 4,182 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Match Group during the 4th quarter worth $404,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Match Group by 9.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,133 shares of the technology company’s stock valued at $9,385,000 after purchasing an additional 21,588 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Company Profile

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.