JPMorgan Chase & Co. Initiates Coverage on Match Group (NASDAQ:MTCH)

Key Points

• JPMorgan initiated coverage of Match Group with a “neutral” rating and a $43 price target, implying roughly 3.9% upside from the prior close.
• Analyst sentiment is moderately positive overall, with a consensus rating of “Moderate Buy” and an average price target of $42.46.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, while revenue of $853.1 million fell slightly short of expectations and declined 1.2% year over year.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Match Group (NASDAQ:MTCH - Get Free Report) in a research note issued on Monday. The firm set a "neutral" rating and a $43.00 price target on the technology company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 3.93% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group boosted their price objective on Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Morgan Stanley set a $40.00 price target on Match Group in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Finally, Citigroup increased their price objective on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.46.

Match Group Price Performance

NASDAQ:MTCH traded up $0.51 during midday trading on Monday, reaching $41.38. The stock had a trading volume of 149,022 shares, compared to its average volume of 4,141,709. The stock has a market capitalization of $9.50 billion, a P/E ratio of 14.54, a PEG ratio of 0.60 and a beta of 1.30. Match Group has a 1-year low of $28.81 and a 1-year high of $41.42. The firm's fifty day simple moving average is $38.01 and its 200-day simple moving average is $34.90.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business's revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. On average, equities research analysts anticipate that Match Group will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Match Group

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. The trade was a 5.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On Match Group

A number of institutional investors have recently added to or reduced their stakes in MTCH. Activest Wealth Management raised its holdings in shares of Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after buying an additional 848 shares in the last quarter. Advisory Services Network LLC bought a new stake in Match Group in the third quarter valued at $28,000. Whittier Trust Co. grew its position in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock valued at $29,000 after acquiring an additional 431 shares during the period. Parkside Financial Bank & Trust grew its position in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after acquiring an additional 356 shares during the period. Finally, Elevation Wealth Partners LLC raised its stake in Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after acquiring an additional 884 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

About Match Group

Match Group, Inc NASDAQ: MTCH is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.

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