Match Group (NASDAQ:MTCH) Stock Rating Upgraded by Evercore

Match Group (NASDAQ:MTCH) was upgraded by research analysts at Evercore from a “cautious” rating to an “outperform” rating in a report issued on Monday, Marketbeat reports. The brokerage presently has a $53.00 price objective on the technology company’s stock. Evercore’s price objective indicates a potential upside of 13.91% from the stock’s current price.

MTCH has been the topic of several other research reports. Morgan Stanley set a $40.00 price objective on shares of Match Group in a report on Wednesday, August 5th. Weiss Ratings raised shares of Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. TD Cowen reduced their target price on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. JPMorgan Chase & Co. started coverage on shares of Match Group in a research note on Monday, August 24th. They issued a “neutral” rating and a $43.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.85.

Match Group Trading Up 4.0%

Shares of Match Group stock opened at $46.53 on Monday. The company’s fifty day simple moving average is $41.39 and its 200-day simple moving average is $38.17. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.67 and a beta of 1.43. Match Group has a 1 year low of $28.81 and a 1 year high of $46.62.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. During the same period in the prior year, the company earned $0.49 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that Match Group will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the acquisition, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mcdaniel sold 3,531 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the sale, the director directly owned 26,839 shares of the company’s stock, valued at $1,138,778.77. The trade was a 11.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,291 shares of company stock worth $976,478. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. grew its holdings in Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after purchasing an additional 431 shares during the period. Eastern Bank bought a new position in Match Group during the third quarter worth about $31,000. Elevation Wealth Partners LLC increased its holdings in shares of Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after purchasing an additional 884 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Match Group in the second quarter worth $76,000. Finally, Parallel Advisors LLC raised its position in Match Group by 31.4% during the first quarter. Parallel Advisors LLC now owns 3,385 shares of the technology company’s stock valued at $104,000 after purchasing an additional 808 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Company Profile

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.