Match Group (NASDAQ:MTCH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Match Group (NASDAQ:MTCH - Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $31.00 to $32.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 4.27% from the stock's previous close.

A number of other analysts have also commented on the stock. Evercore ISI reaffirmed a "cautious" rating and set a $32.00 price objective on shares of Match Group in a research note on Wednesday, May 21st. 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. Stifel Nicolaus reduced their target price on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, UBS Group dropped their price target on Match Group from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.96.

Match Group Price Performance

Shares of Match Group stock traded up $0.27 on Friday, hitting $30.69. The company had a trading volume of 499,962 shares, compared to its average volume of 4,853,770. Match Group has a 52 week low of $26.39 and a 52 week high of $38.84. The company has a market cap of $7.69 billion, a PE ratio of 15.19, a PEG ratio of 0.70 and a beta of 1.35. The business has a 50-day simple moving average of $30.06 and a 200-day simple moving average of $31.37.

Insider Buying and Selling

In other news, CEO Spencer M. Rascoff bought 70,885 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the transaction, the chief executive officer now directly owns 137,478 shares of the company's stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MTCH. NBC Securities Inc. bought a new stake in shares of Match Group during the 1st quarter valued at $37,000. Canada Post Corp Registered Pension Plan bought a new stake in Match Group in the fourth quarter valued at about $43,000. SVB Wealth LLC bought a new position in Match Group during the first quarter worth about $49,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after buying an additional 1,512 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Match Group in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 94.05% of the company's stock.

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.

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