Match Group (NASDAQ:MTCH) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Match Group from “buy” to “hold.” Across analysts, the stock has an average “hold” rating and an average price target of $41.54.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, while revenue of $853.11 million fell slightly short of expectations and declined 1.2% year over year.
• Shares opened at $37.26, giving the company an $8.69 billion market capitalization; institutional investors own approximately 94.05% of the stock.

Match Group (NASDAQ:MTCH - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

MTCH has been the subject of several other research reports. Piper Sandler set a $51.00 target price on Match Group in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price target on Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. TD Cowen dropped their price target on Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday. Barclays increased their price objective on shares of Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.54.

Match Group Stock Performance

Shares of Match Group stock opened at $37.26 on Friday. The company has a market capitalization of $8.69 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.57 and a beta of 1.30. The company has a fifty day moving average of $37.34 and a 200 day moving average of $34.40. Match Group has a fifty-two week low of $28.81 and a fifty-two week high of $41.40.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the prior year, the business posted $0.49 EPS. Match Group's revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts forecast that Match Group will post 3.11 EPS for the current 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 the company. Advisory Services Network LLC bought a new stake in Match Group in the 3rd quarter worth approximately $28,000. Activest Wealth Management boosted its position in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after acquiring an additional 848 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Match Group by 91.3% during the 1st 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 last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Match Group by 1,319.4% in the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock valued at $36,000 after purchasing an additional 884 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of 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 purchasing an additional 356 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Company Profile

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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