Match Group (NASDAQ:MTCH - Get Free Report) had its target price cut by analysts at Royal Bank of Canada from $47.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's price target would indicate a potential upside of 15.66% from the company's previous close.
A number of other research analysts have also recently issued reports on the stock. StockNews.com raised shares of Match Group from a "hold" rating to a "buy" rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Match Group from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price objective on Match Group from $34.00 to $39.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. 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 analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Match Group currently has an average rating of "Moderate Buy" and a consensus target price of $40.90.
Check Out Our Latest Stock Analysis on MTCH
Shares of MTCH traded down $0.85 during trading hours on Friday, hitting $30.26. 4,681,652 shares of the company were exchanged, compared to its average volume of 5,260,902. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.79 and a beta of 1.51. The firm's fifty day moving average is $36.95 and its 200 day moving average is $33.99.
Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. The firm had revenue of $895.48 million for the quarter, compared to the consensus estimate of $900.33 million. Analysts anticipate that Match Group will post 1.96 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Match Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company's stock valued at $1,173,966,000 after buying an additional 416,140 shares during the last quarter. Pacer Advisors Inc. increased its position in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company's stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in Match Group by 30.1% during the 1st 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 purchasing an additional 943,894 shares during the period. Assenagon Asset Management S.A. bought a new position in Match Group during the 2nd quarter worth approximately $100,848,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Match Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company's stock worth $77,342,000 after purchasing an additional 12,379 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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