Match Group (MTCH) Trading Up -5.4% Following Analyst Upgrade
Shares of Match Group Inc (NASDAQ:MTCH) were up 5.4% during trading on Thursday after BMO Capital Markets raised their price target on the stock from $35.00 to $42.00. BMO Capital Markets currently has an outperform rating on the stock. Match Group traded as high as $36.84 and last traded at $34.10. Approximately 1,486,157 shares traded hands during trading, a decline of 3% from the average daily volume of 1,530,460 shares. The stock had previously closed at $36.03.
MTCH has been the topic of several other reports. Wells Fargo & Co reissued an “outperform” rating and set a $38.00 price target (up from $33.00) on shares of Match Group in a research note on Monday, January 8th. Aegis raised their price objective on shares of Match Group from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Match Group in a research note on Wednesday, October 11th. Guggenheim raised shares of Match Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Vetr raised shares of Match Group from a “hold” rating to a “buy” rating and set a $37.10 price objective on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.38.
In other news, Director Ann Mcdaniel sold 11,119 shares of Match Group stock in a transaction on Monday, November 27th. The shares were sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 18.10% of the company’s stock.
The stock has a market capitalization of $9,360.00 and a PE ratio of 28.54. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). Match Group had a return on equity of 25.34% and a net margin of 26.31%. The firm had revenue of $379.00 million for the quarter, compared to the consensus estimate of $362.86 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. sell-side analysts expect that Match Group Inc will post 0.86 EPS for the current fiscal year.
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About Match Group
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.
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