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

Match Group (NASDAQ:MTCH - Free Report) had its price target trimmed by Citigroup from $34.00 to $33.00 in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the technology company's stock.

A number of other research analysts have also recently issued reports on MTCH. Royal Bank of Canada cut their price target on Match Group from $43.00 to $33.00 and set an outperform rating for the company in a report on Thursday, May 9th. Morgan Stanley decreased their price target on shares of Match Group from $34.00 to $33.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Match Group from $42.00 to $38.00 and set a buy rating for the company in a research report on Thursday, May 9th. UBS Group decreased their price objective on Match Group from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Thursday, May 9th. Finally, Wells Fargo & Company cut their price target on Match Group from $31.00 to $30.00 and set an equal weight rating on the stock in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Match Group currently has an average rating of Moderate Buy and an average price target of $42.12.

Match Group Price Performance

Shares of MTCH traded down $0.26 during trading hours on Monday, hitting $32.02. The stock had a trading volume of 8,515,985 shares, compared to its average volume of 5,576,053. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 0.54 and a beta of 1.49. The company's fifty day moving average is $30.67 and its two-hundred day moving average is $33.65. Match Group has a 52 week low of $27.66 and a 52 week high of $49.24.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. The company had revenue of $860.00 million during the quarter, compared to analysts' expectations of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. Match Group's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Equities analysts predict that Match Group will post 2.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTCH. Norges Bank bought a new stake in shares of Match Group in the fourth quarter valued at about $112,903,000. Bank of Nova Scotia grew its position in Match Group by 17,295.4% during the fourth quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company's stock worth $78,678,000 after buying an additional 2,143,240 shares in the last quarter. Kodai Capital Management LP bought a new position in Match Group during the 4th quarter worth $47,613,000. Schroder Investment Management Group increased its stake in Match Group by 290.8% during the 4th quarter. Schroder Investment Management Group now owns 1,566,334 shares of the technology company's stock worth $57,171,000 after acquiring an additional 1,165,576 shares during the period. Finally, Capitolis Liquid Global Markets LLC lifted its position in shares of Match Group by 668.9% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company's stock valued at $47,309,000 after acquiring an additional 1,134,400 shares during the period. 94.05% of the stock is owned by institutional investors.

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.