Match Group (NASDAQ:MTCH) Price Target Raised to $43.00

Match Group (NASDAQ:MTCH) had its price target increased by UBS Group from $38.00 to $43.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial boosted their price objective on shares of Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Barclays raised their target price on shares of Match Group from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday. Needham & Company LLC upgraded shares of Match Group to a “buy” rating in a report on Tuesday. Finally, BTIG Research restated a “neutral” rating on shares of Match Group in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.64.

Match Group Trading Down 2.6%

Shares of Match Group stock opened at $39.16 on Tuesday. Match Group has a twelve month low of $28.81 and a twelve month high of $46.67. The stock has a market capitalization of $8.99 billion, a P/E ratio of 13.01, a PEG ratio of 0.59 and a beta of 1.47. The business’s fifty day moving average price is $42.12 and its 200 day moving average price is $36.65.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Monday, November 2nd. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $891.23 million during the quarter, compared to the consensus estimate of $892.45 million. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, sell-side analysts predict that Match Group will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 21st. Stockholders of record on Wednesday, January 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, January 6th. Match Group’s payout ratio is presently 27.21%.

Insider Activity

In other news, Director Ann Mcdaniel sold 3,531 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total value of $149,820.33. Following the completion of the transaction, the director directly owned 26,839 shares in the company, valued at approximately $1,138,778.77. This represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Bailey sold 4,760 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the sale, the director directly owned 11,742 shares of the company’s stock, valued at approximately $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,291 shares of company stock valued at $976,478 over the last ninety days. 0.71% of the stock is owned by company insiders.

Institutional Trading of Match Group

A number of hedge funds and other institutional investors have recently modified their holdings of MTCH. Fifth Third Bancorp grew its position in shares of Match Group by 101.8% in the third quarter. Fifth Third Bancorp now owns 218,965 shares of the technology company’s stock valued at $8,791,000 after purchasing an additional 110,470 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Match Group by 43.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 66,308 shares of the technology company’s stock worth $2,662,000 after purchasing an additional 20,193 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Match Group by 74.8% during the 3rd quarter. Ritholtz Wealth Management now owns 21,092 shares of the technology company’s stock worth $847,000 after purchasing an additional 9,025 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Match Group by 0.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 344,833 shares of the technology company’s stock worth $13,845,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Lido Advisors LLC boosted its stake in Match Group by 23.0% during the 3rd quarter. Lido Advisors LLC now owns 37,923 shares of the technology company’s stock valued at $1,523,000 after purchasing an additional 7,087 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

More Match Group News

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Citigroup expects Match Group shares to rise, while Barclays and Truist raised their price targets and UBS forecast strong appreciation. These calls may support investor confidence. Citigroup analyst outlook Barclays price target Truist price target UBS outlook
• Positive Sentiment: Tinder’s global daily active users returned to year-over-year growth in September, and Match expects full-year revenue to finish above the midpoint of its guidance range—potential signs of improving engagement and execution. Three earnings takeaways
• Neutral Sentiment: Match is testing a lower-priced Hinge plan. It could broaden access and attract users, but investors will want to see whether added subscriptions outweigh any pressure on revenue per user. Hinge plan analysis
• Negative Sentiment: A reported analyst downgrade weighed on sentiment, despite the separate target increases. Match’s latest quarterly revenue also came in slightly below expectations and declined 2.5% year over year, tempering its earnings-per-share beat. Analyst downgrade report

Match Group Company Profile

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.