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Match Group (NASDAQ:MTCH) Given New $45.00 Price Target at Susquehanna

Match Group logo with Computer and Technology background

Key Points

  • Susquehanna has raised Match Group's price target from $40 to $45, suggesting a potential upside of 20.74% from its last closing price, while maintaining a "positive" rating.
  • In contrast, several other firms have lowered their price targets, with Barclays setting it at $46 and Bank of America at $33, resulting in a consensus rating of "Hold" and an average price target of $35.44 among analysts.
  • CEO Spencer M. Rascoff reported a significant increase in his ownership of shares, purchasing 70,885 shares valued at approximately $1.99 million, indicating strong personal confidence in the company's future.
  • Need Better Tools to Track Match Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Match Group (NASDAQ:MTCH - Get Free Report) had its price objective boosted by Susquehanna from $40.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "positive" rating on the technology company's stock. Susquehanna's price objective would indicate a potential upside of 20.74% from the company's previous close.

MTCH has been the topic of a number of other reports. Barclays lowered their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Bank of America decreased their target price on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday. Stifel Nicolaus decreased their target price on Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $35.44.

Check Out Our Latest Stock Analysis on MTCH

Match Group Price Performance

NASDAQ:MTCH opened at $37.27 on Thursday. The firm's fifty day moving average price is $32.15 and its 200 day moving average price is $31.53. Match Group has a 1-year low of $26.39 and a 1-year high of $38.77. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the transaction, the chief executive officer owned 137,478 shares in the company, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.64% of the company's stock.

Institutional Trading of Match Group

Institutional investors have recently added to or reduced their stakes in the business. Starboard Value LP increased its stake in shares of Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after buying an additional 5,100,824 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Match Group by 17.4% during the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock worth $384,808,000 after purchasing an additional 1,822,362 shares during the last quarter. Invesco Ltd. lifted its stake in Match Group by 64.2% during the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after purchasing an additional 3,738,509 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Match Group by 10.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company's stock worth $173,880,000 after purchasing an additional 506,763 shares during the last quarter. Finally, Nuveen LLC bought a new position in Match Group during the first quarter worth $142,281,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Match Group

(Get Free Report)

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.

Read More

Analyst Recommendations for Match Group (NASDAQ:MTCH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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