Match Group (NASDAQ:MTCH) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Match Group to “strong buy” from “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $41.54.
• Match Group shares opened at $36.58, with a 12-month range of $28.81 to $41.40 and a market capitalization of approximately $8.53 billion.
• The company’s latest quarterly results exceeded EPS expectations, reporting $0.70 per share versus the $0.65 consensus estimate, although revenue declined 1.2% year over year to $853.11 million.

Match Group (NASDAQ:MTCH - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

MTCH has been the topic of a number of other reports. Wells Fargo & Company increased their price objective on shares of Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Citigroup boosted their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Susquehanna reissued a "positive" rating on shares of Match Group in a report on Wednesday, August 5th. Finally, Piper Sandler set a $51.00 price target on Match Group in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.54.

Match Group Price Performance

MTCH opened at $36.58 on Tuesday. The business has a fifty day moving average price of $37.41 and a 200 day moving average price of $34.54. Match Group has a 12 month low of $28.81 and a 12 month high of $41.40. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.54 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same quarter last year, the company earned $0.49 EPS. Match Group's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that Match Group will post 3.31 earnings per share for the current year.

Institutional Investors Weigh In On Match Group

Several large investors have recently modified their holdings of the company. Activest Wealth Management boosted its stake in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Match Group during the third quarter worth $28,000. Whittier Trust Co. lifted its holdings in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock worth $29,000 after purchasing an additional 431 shares during the period. Parkside Financial Bank & Trust grew its position in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after buying an additional 356 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock valued at $36,000 after buying an additional 884 shares during the period. 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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