Match Group (NASDAQ:MTCH) Price Target Cut to $33.00 by Analysts at Morgan Stanley

Match Group (NASDAQ:MTCH - Get Free Report) had its price objective lowered by Morgan Stanley from $36.00 to $33.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Morgan Stanley's price objective would suggest a potential upside of 6.45% from the company's current price.

Several other equities analysts have also recently commented on MTCH. TD Cowen upped their target price on shares of Match Group from $44.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Truist Financial cut their target price on shares of Match Group from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Friday. Barclays cut their target price on shares of Match Group from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday. Evercore ISI upgraded shares of Match Group to a "strong-buy" rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada dropped their price objective on shares of Match Group from $47.00 to $35.00 and set an "outperform" rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Match Group presently has an average rating of "Moderate Buy" and an average target price of $40.73.

Match Group Trading Down 2.9 %

NASDAQ:MTCH traded down $0.94 during trading hours on Tuesday, hitting $31.00. 3,411,606 shares of the company traded hands, compared to its average volume of 5,282,224. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.63 and a beta of 1.51. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The firm has a 50-day moving average of $36.59 and a 200 day moving average of $33.99.

Institutional Investors Weigh In On Match Group

Hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Life Insurance Co. raised its holdings in Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company's stock worth $403,000 after buying an additional 297 shares during the period. Fulton Bank N.A. increased its holdings in shares of Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company's stock valued at $379,000 after purchasing an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company's stock valued at $133,000 after acquiring an additional 357 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company's stock valued at $982,000 after acquiring an additional 384 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company's stock valued at $1,133,000 after acquiring an additional 455 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Match Group Company Profile

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.