Match Group (NASDAQ:MTCH) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Match Group (NASDAQ:MTCH) to a hold; the stock's consensus rating remains Hold with an average analyst price target of $35.64 (5 Buys, 11 Holds).
• Match Group's latest quarter missed EPS ($0.83 vs. $1.00 expected) while revenue of $878.0M slightly beat estimates; shares opened at $32.70, with a market cap of $7.61B and a P/E of 13.74.
• Institutional investors own about 94.05% of the company and several funds significantly increased their stakes in the third quarter.

Match Group (NASDAQ:MTCH - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on MTCH. Royal Bank Of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of Match Group in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Match Group from a "hold" rating to a "buy" rating in a report on Saturday, February 7th. Raymond James Financial reiterated a "market perform" rating on shares of Match Group in a report on Wednesday, December 10th. Morgan Stanley set a $35.00 target price on shares of Match Group in a report on Wednesday, February 4th. Finally, UBS Group reiterated a "neutral" rating on shares of Match Group in a report on Friday, March 13th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Match Group has a consensus rating of "Hold" and an average target price of $35.64.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $32.70 on Monday. The company has a 50 day simple moving average of $31.01 and a 200-day simple moving average of $32.23. The company has a market capitalization of $7.61 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.51 and a beta of 1.30. Match Group has a 1 year low of $26.39 and a 1 year high of $39.20.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.17). The firm had revenue of $878.01 million for the quarter, compared to analyst estimates of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, research analysts expect that Match Group will post 2.44 EPS for the current year.

Hedge Funds Weigh In On Match Group

Institutional investors have recently modified their holdings of the business. Fieldview Capital Management LLC acquired a new position in shares of Match Group in the third quarter worth $1,803,000. CWM LLC grew its stake in shares of Match Group by 3,228.4% in the third quarter. CWM LLC now owns 266,406 shares of the technology company's stock worth $9,409,000 after acquiring an additional 258,402 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Match Group by 611.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 116,535 shares of the technology company's stock worth $3,857,000 after acquiring an additional 100,163 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Match Group in the third quarter worth $1,863,000. Finally, GSA Capital Partners LLP grew its stake in shares of Match Group by 327.7% in the third quarter. GSA Capital Partners LLP now owns 50,252 shares of the technology company's stock worth $1,775,000 after acquiring an additional 38,502 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

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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