Match Group (MTCH) Given Outperform Rating at Wells Fargo & Co

Match Group (NASDAQ:MTCH)‘s stock had its “outperform” rating reissued by investment analysts at Wells Fargo & Co in a research report issued on Monday, The Fly reports. They presently have a $38.00 target price on the technology company’s stock, up from their previous target price of $33.00. Wells Fargo & Co’s price target would indicate a potential upside of 17.87% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Jefferies Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Match Group in a research note on Saturday, September 30th. UBS Group boosted their price objective on shares of Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $21.00 price objective on shares of Match Group in a research note on Wednesday, September 13th. Citigroup boosted their price objective on shares of Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Bank of America boosted their price objective on shares of Match Group from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.77.

Match Group (NASDAQ:MTCH) traded up $0.15 during midday trading on Monday, hitting $32.24. 1,181,000 shares of the stock traded hands, compared to its average volume of 1,444,433. Match Group has a one year low of $15.42 and a one year high of $33.08. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $8,730.00 and a price-to-earnings ratio of 21.49.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). Match Group had a net margin of 34.06% and a return on equity of 31.18%. The business had revenue of $343.40 million during the quarter, compared to the consensus estimate of $329.19 million. During the same period last year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. equities research analysts expect that Match Group will post 0.62 earnings per share for the current fiscal year.

In other Match Group news, Director Ann Mcdaniel sold 11,119 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $30.62, for a total value of $340,463.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in MTCH. Light Street Capital Management LLC purchased a new position in Match Group in the 2nd quarter worth approximately $39,974,000. Vanguard Group Inc. grew its stake in Match Group by 34.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after buying an additional 1,617,950 shares in the last quarter. Wells Fargo & Company MN grew its stake in Match Group by 493.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,003,722 shares of the technology company’s stock worth $23,276,000 after buying an additional 834,681 shares in the last quarter. black and white Capital LP purchased a new position in Match Group in the 2nd quarter worth approximately $13,209,000. Finally, Gladstone Capital Management LLP purchased a new position in Match Group in the 3rd quarter worth approximately $13,962,000. 20.97% of the stock is owned by institutional investors and hedge funds.

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Match Group Company Profile

Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.

The Fly

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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