Match Group (NASDAQ:MTCH) Price Target Lowered to $48.00 at Susquehanna

Posted by on May 8th, 2023

Match Group (NASDAQ:MTCH – Get Rating) had its price objective lowered by Susquehanna from $70.00 to $48.00 in a research report report published on Thursday morning, The Fly reports.

MTCH has been the subject of a number of other reports. The Goldman Sachs Group dropped their target price on shares of Match Group from $65.00 to $58.00 and set a buy rating for the company in a report on Friday, April 21st. Robert W. Baird initiated coverage on Match Group in a report on Tuesday, April 11th. They set an outperform rating and a $50.00 price objective for the company. Cowen lowered their target price on Match Group from $80.00 to $74.00 and set an outperform rating on the stock in a report on Thursday, February 2nd. UBS Group lowered their price target on shares of Match Group from $42.00 to $40.00 in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on Match Group from $60.00 to $65.00 and gave the company a buy rating in a report on Tuesday, January 24th. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $61.57.

Match Group Price Performance

Shares of MTCH stock opened at $33.22 on Thursday. The business’s fifty day moving average price is $36.94 and its 200 day moving average price is $42.52. The firm has a market capitalization of $9.28 billion, a PE ratio of 31.64, a P/E/G ratio of 0.63 and a beta of 1.34. Match Group has a 1-year low of $32.87 and a 1-year high of $87.46.

Match Group (NASDAQ:MTCH – Get Rating) last issued its earnings results on Tuesday, May 2nd. The technology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $787.12 million for the quarter, compared to analyst estimates of $794.06 million. Match Group had a net margin of 9.51% and a negative return on equity of 116.87%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Equities research analysts expect that Match Group will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Match Group

In related news, insider Jared F. Sine sold 7,110 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $41.27, for a total value of $293,429.70. Following the completion of the sale, the insider now directly owns 60,379 shares in the company, valued at $2,491,841.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. lifted its position in Match Group by 371.4% during the first quarter. Coronation Fund Managers Ltd. now owns 512,050 shares of the technology company’s stock valued at $19,658,000 after buying an additional 403,436 shares in the last quarter. Pacific Capital Wealth Advisors Inc. lifted its position in Match Group by 27.4% during the first quarter. Pacific Capital Wealth Advisors Inc. now owns 86,005 shares of the technology company’s stock valued at $3,302,000 after buying an additional 18,516 shares in the last quarter. Amica Mutual Insurance Co. lifted its position in Match Group by 36.4% during the first quarter. Amica Mutual Insurance Co. now owns 150,227 shares of the technology company’s stock valued at $5,767,000 after buying an additional 40,116 shares in the last quarter. Amica Retiree Medical Trust lifted its position in Match Group by 46.7% during the first quarter. Amica Retiree Medical Trust now owns 20,780 shares of the technology company’s stock valued at $798,000 after buying an additional 6,611 shares in the last quarter. Finally, Pitcairn Co. lifted its position in Match Group by 13.3% during the first quarter. Pitcairn Co. now owns 49,914 shares of the technology company’s stock valued at $1,916,000 after buying an additional 5,852 shares in the last quarter. 93.53% of the stock is owned by institutional investors and hedge funds.

About Match Group

(Get Rating)

Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.

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