Match Group (NASDAQ:MTCH) Stock Rating Upgraded by Oppenheimer

Match Group (NASDAQ:MTCH) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report released on Thursday, MarketBeat.com reports. The firm currently has a $89.00 price objective on the technology company’s stock. Oppenheimer’s target price would suggest a potential upside of 20.11% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Citigroup assumed coverage on Match Group in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group upped their target price on Match Group from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. SunTrust Banks upgraded Match Group from a “hold” rating to a “buy” rating and upped their target price for the company from $90.00 to $106.00 in a research report on Thursday, September 5th. Bank of America set a $102.00 target price on Match Group and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group lowered Match Group from a “buy” rating to a “neutral” rating and upped their target price for the company from $77.00 to $95.00 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $92.75.

Shares of NASDAQ MTCH opened at $74.10 on Thursday. The business’s 50 day moving average price is $78.49 and its 200 day moving average price is $71.38. The firm has a market cap of $21.35 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.57 and a beta of 0.19. Match Group has a 52 week low of $33.30 and a 52 week high of $95.32. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 7.63.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $489.16 million. Match Group had a return on equity of 166.69% and a net margin of 26.51%. Match Group’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, research analysts expect that Match Group will post 1.77 earnings per share for the current year.

In other Match Group news, insider Jared F. Sine sold 24,641 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $81.58, for a total value of $2,010,212.78. Following the sale, the insider now owns 39,649 shares in the company, valued at approximately $3,234,565.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Philip D. Eigenmann sold 7,057 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $84.49, for a total value of $596,245.93. Following the completion of the sale, the chief accounting officer now owns 13,133 shares in the company, valued at approximately $1,109,607.17. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Match Group by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,319,263 shares of the technology company’s stock worth $425,097,000 after buying an additional 48,969 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Match Group by 8.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,469,837 shares of the technology company’s stock worth $373,207,000 after buying an additional 425,333 shares during the period. Renaissance Technologies LLC raised its stake in shares of Match Group by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,821,900 shares of the technology company’s stock worth $189,829,000 after buying an additional 665,600 shares during the period. Bank of America Corp DE raised its stake in shares of Match Group by 24.5% during the 2nd quarter. Bank of America Corp DE now owns 1,187,742 shares of the technology company’s stock worth $79,899,000 after buying an additional 233,918 shares during the period. Finally, Gladstone Capital Management LLP raised its stake in shares of Match Group by 24.1% during the 2nd quarter. Gladstone Capital Management LLP now owns 1,041,364 shares of the technology company’s stock worth $70,053,000 after buying an additional 202,312 shares during the period. Institutional investors and hedge funds own 22.81% of the company’s stock.

About Match Group

Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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