Vetr Downgrades Match Group (MTCH) to Buy

Vetr cut shares of Match Group (NASDAQ:MTCH) from a strong-buy rating to a buy rating in a research report released on Monday. The firm currently has $35.61 target price on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Guggenheim upgraded Match Group from a neutral rating to a buy rating in a research note on Tuesday, December 19th. Bank of America upped their price objective on Match Group from $21.00 to $30.00 and gave the stock a buy rating in a research note on Tuesday, October 10th. Deutsche Bank reaffirmed a buy rating and set a $33.00 target price on shares of Match Group in a research report on Wednesday, November 15th. Wells Fargo & Co reaffirmed a buy rating and set a $29.00 target price (up from $21.00) on shares of Match Group in a research report on Thursday, October 19th. Finally, Barclays upped their target price on Match Group from $20.00 to $26.00 and gave the company an equal weight rating in a research report on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Match Group presently has an average rating of Buy and an average price target of $32.77.

Shares of Match Group (MTCH) traded up $0.15 during midday trading on Monday, hitting $32.24. The company had a trading volume of 1,181,082 shares, compared to its average volume of 1,360,000. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40. The stock has a market cap of $8,810.00 and a PE ratio of 21.49. Match Group has a 1 year low of $15.42 and a 1 year high of $33.08.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $329.19 million. Match Group had a return on equity of 31.18% and a net margin of 34.06%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. analysts predict that Match Group will post 0.62 EPS for the current year.

In related news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 18.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its holdings in shares of Match Group by 499.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after purchasing an additional 5,333 shares during the period. Turner Investments LLC acquired a new position in shares of Match Group in the third quarter valued at about $162,000. BNP Paribas Arbitrage SA increased its holdings in shares of Match Group by 162.9% in the third quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock valued at $163,000 after purchasing an additional 4,359 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Match Group by 40.7% in the third quarter. Envestnet Asset Management Inc. now owns 7,354 shares of the technology company’s stock valued at $172,000 after purchasing an additional 2,129 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Match Group by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after purchasing an additional 519 shares during the period. 20.97% of the stock is currently owned by institutional investors.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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