Raymond James Begins Coverage on Match Group (NASDAQ:MTCH)

Stock analysts at Raymond James initiated coverage on shares of Match Group (NASDAQ:MTCH - Get Free Report) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a "market perform" rating on the technology company's stock.

Several other brokerages also recently commented on MTCH. JPMorgan Chase & Co. lowered their target price on shares of Match Group from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, February 1st. Wells Fargo & Company began coverage on shares of Match Group in a research report on Thursday, December 7th. They set an "equal weight" rating and a $32.00 price target for the company. Piper Sandler restated an "overweight" rating and set a $45.00 price target on shares of Match Group in a research report on Wednesday, March 27th. KeyCorp increased their price target on shares of Match Group from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. Finally, UBS Group increased their price target on shares of Match Group from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, January 26th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Match Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.58.

Match Group Price Performance

Shares of Match Group stock traded down $2.05 during trading on Thursday, reaching $33.72. 6,365,833 shares of the company traded hands, compared to its average volume of 6,105,441. Match Group has a 1-year low of $27.85 and a 1-year high of $49.24. The company has a 50 day moving average price of $35.92 and a 200-day moving average price of $35.42. The firm has a market capitalization of $9.04 billion, a PE ratio of 14.79, a P/E/G ratio of 0.56 and a beta of 1.41.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.32. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The firm had revenue of $866.00 million for the quarter, compared to the consensus estimate of $861.31 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Match Group will post 2.17 earnings per share for the current year.

Hedge Funds Weigh In On Match Group

A number of large investors have recently modified their holdings of MTCH. BlackRock Inc. raised its stake in Match Group by 5.6% in the first quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company's stock valued at $1,372,412,000 after purchasing an additional 1,889,531 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company's stock worth $3,170,951,000 after purchasing an additional 500,418 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Match Group by 107,412.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company's stock worth $984,604,000 after purchasing an additional 23,709,043 shares during the last quarter. State Street Corp grew its holdings in shares of Match Group by 8.1% in the second quarter. State Street Corp now owns 13,215,374 shares of the technology company's stock worth $553,063,000 after purchasing an additional 992,393 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Match Group by 113.2% in the second quarter. Nuveen Asset Management LLC now owns 8,693,247 shares of the technology company's stock worth $363,812,000 after purchasing an additional 4,616,093 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Company Profile

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.