Match Group Inc. (NASDAQ:MTCH) Stock Has Consensus Price Target of $42.46 According to Analysts

Shares of Match Group Inc. (NASDAQ:MTCH) have received a consensus rating of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $42.46.

Several research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. TD Cowen lowered their target price on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Morgan Stanley set a $40.00 price target on Match Group in a research report on Wednesday, August 5th. Truist Financial raised their price target on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded Match Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 4,760 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the sale, the director owned 11,742 shares in the company, valued at approximately $496,216.92. The trade was a 28.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenn Schiffman purchased 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the transaction, the director directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 23,291 shares of company stock worth $976,478. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Match Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Match Group during the second quarter valued at about $1,087,055,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Match Group by 2.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,494,679 shares of the technology company’s stock valued at $242,003,000 after buying an additional 196,191 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Match Group in the 2nd quarter worth approximately $154,811,000. First Manhattan CO. LLC. grew its position in shares of Match Group by 2.0% in the 4th quarter. First Manhattan CO. LLC. now owns 3,557,506 shares of the technology company’s stock worth $114,872,000 after buying an additional 68,649 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Match Group by 196.6% during the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after acquiring an additional 2,117,414 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Match Group stock opened at $41.09 on Friday. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.61 and a beta of 1.43. The firm has a 50-day moving average of $40.64 and a two-hundred day moving average of $37.48. Match Group has a 1 year low of $28.81 and a 1 year high of $44.94.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same period last year, the company posted $0.49 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts expect that Match Group will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Match Group’s dividend payout ratio (DPR) is 28.27%.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help users form romantic, social and relationship-oriented connections across a range of demographics, interests and relationship goals.

Its brands include Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, OurTime, BLK, Chispa and The League. These services are available through mobile applications and websites and generally offer features such as user profiles, matching, messaging, discovery tools and subscription or other paid enhancements.

Match Group traces its origins to Match.com and was established as a standalone public company after being spun off from IAC in 2020.