Match Group (NASDAQ:MTCH) Coverage Initiated at Wolfe Research

Wolfe Research started coverage on shares of Match Group (NASDAQ:MTCH - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $36.00 target price on the technology company's stock.

Other analysts have also issued research reports about the stock. TD Cowen cut their target price on shares of Match Group from $46.00 to $44.00 and set a buy rating on the stock in a research report on Thursday, May 9th. StockNews.com upgraded shares of Match Group from a hold rating to a buy rating in a research report on Monday, June 24th. Piper Sandler restated an overweight rating and issued a $45.00 target price on shares of Match Group in a research report on Wednesday, March 27th. Morgan Stanley dropped their price target on shares of Match Group from $34.00 to $33.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Citigroup dropped their price target on shares of Match Group from $34.00 to $33.00 and set a neutral rating for the company in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Match Group currently has an average rating of Moderate Buy and a consensus price target of $41.79.

Match Group Stock Performance

Shares of NASDAQ MTCH traded up $2.39 during trading hours on Tuesday, hitting $34.41. 15,592,771 shares of the stock were exchanged, compared to its average volume of 5,650,817. The company has a market cap of $9.14 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.54 and a beta of 1.49. The company's fifty day simple moving average is $30.67 and its two-hundred day simple moving average is $33.62. Match Group has a 1-year low of $27.66 and a 1-year high of $49.24.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. The business had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. As a group, sell-side analysts expect that Match Group will post 2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. purchased a new position in Match Group during the first quarter worth about $28,000. Principal Securities Inc. purchased a new position in Match Group during the fourth quarter worth about $31,000. Mather Group LLC. purchased a new position in Match Group during the first quarter worth about $33,000. Fidelis Capital Partners LLC purchased a new position in Match Group during the first quarter worth about $33,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Match Group by 46.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company's stock worth $42,000 after purchasing an additional 361 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Match Group

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.