Match Group (NASDAQ:MTCH) Price Target Raised to $45.00

Match Group (NASDAQ:MTCH) had its price objective upped by Citigroup from $39.00 to $45.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Truist Financial raised their price target on shares of Match Group from $41.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday. Barclays boosted their price objective on Match Group from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company reduced their target price on Match Group from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday. Needham & Company LLC upgraded Match Group to a “buy” rating in a research report on Tuesday. Finally, Evercore raised Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 price target on the stock in a research note on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and a consensus price target of $45.64.

Match Group Trading Down 2.6%

Shares of MTCH stock opened at $39.16 on Tuesday. The company has a market capitalization of $8.99 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.59 and a beta of 1.47. Match Group has a 12-month low of $28.81 and a 12-month high of $46.67. The business’s 50 day moving average is $42.12 and its two-hundred day moving average is $36.65.

Match Group (NASDAQ:MTCH) last announced its 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 for the quarter, compared to analyst estimates of $892.45 million. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, research analysts predict that Match Group will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

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

Insider Buying and Selling

In related news, Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total transaction of $149,820.33. Following the transaction, the director owned 26,839 shares in the company, valued at approximately $1,138,778.77. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glenn Schiffman bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 23,291 shares of company stock valued at $976,478. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Match Group

Hedge funds have recently modified their holdings of the company. Eastern Bank acquired a new position in Match Group during the third quarter worth $31,000. Whittier Trust Co. raised its holdings in shares of Match Group by 91.3% in the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after buying an additional 431 shares during the period. Elevation Wealth Partners LLC lifted its stake in Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after acquiring an additional 884 shares in the last quarter. Fulcrum Asset Management LLP lifted its stake in Match Group by 579.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,754 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,496 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in Match Group during the 2nd quarter worth about $76,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group News Roundup

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

About Match Group

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.