Match Group (NASDAQ:MTCH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Match Group (NASDAQ:MTCH) had its price objective lifted by equities researchers at Morgan Stanley from $32.00 to $33.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential downside of 2.37% from the company’s current price.

MTCH has been the subject of several other reports. Barclays reduced their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Susquehanna reduced their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Fifteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Price Performance

MTCH opened at $33.80 on Thursday. The stock has a 50-day moving average price of $32.99 and a 200-day moving average price of $34.66. The firm has a market cap of $8.49 billion, a PE ratio of 15.09, a P/E/G ratio of 1.10 and a beta of 1.45. Match Group has a 1 year low of $27.66 and a 1 year high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. As a group, sell-side analysts anticipate that Match Group will post 2.37 EPS for the current year.

Match Group declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC lifted its holdings in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Match Group during the 3rd quarter worth approximately $31,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Match Group during the 3rd quarter worth approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC purchased a new stake in shares of Match Group during the 3rd quarter worth approximately $87,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Match Group

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.