Match Group (NASDAQ:MTCH) Price Target Lowered to $80.00 at Piper Sandler

Match Group (NASDAQ:MTCHGet Rating) had its target price dropped by investment analysts at Piper Sandler from $125.00 to $80.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective suggests a potential upside of 18.03% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial cut Match Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $145.00 to $68.00 in a report on Wednesday. Wedbush dropped their price target on Match Group from $130.00 to $98.00 in a report on Thursday, May 5th. JPMorgan Chase & Co. dropped their price target on Match Group from $125.00 to $105.00 in a report on Tuesday, July 19th. Royal Bank of Canada dropped their price target on Match Group from $150.00 to $115.00 in a report on Thursday, May 5th. Finally, BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.86.

Match Group Trading Up 1.9 %

Shares of MTCH opened at $67.78 on Thursday. Match Group has a 1 year low of $59.15 and a 1 year high of $182.00. The stock has a 50 day simple moving average of $73.31 and a 200-day simple moving average of $88.77. The stock has a market cap of $19.36 billion, a PE ratio of 211.82, a PEG ratio of 0.61 and a beta of 1.15.

Match Group (NASDAQ:MTCHGet Rating) last issued its earnings results on Tuesday, May 3rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Match Group had a negative return on equity of 164.13% and a net margin of 3.48%. The business had revenue of $798.63 million during the quarter, compared to analysts’ expectations of $795.03 million. During the same period in the prior year, the firm posted $0.57 EPS. Match Group’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts forecast that Match Group will post 2.63 EPS for the current fiscal year.

Insider Activity at Match Group

In other news, CEO Bernard Jin Kim purchased 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average cost of $63.58 per share, for a total transaction of $1,017,280.00. Following the transaction, the chief executive officer now directly owns 16,000 shares of the company’s stock, valued at approximately $1,017,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Match Group

A number of hedge funds have recently modified their holdings of MTCH. National Bank of Canada FI acquired a new stake in shares of Match Group in the 4th quarter valued at approximately $135,000. Van ECK Associates Corp acquired a new stake in shares of Match Group in the 4th quarter valued at approximately $169,000. D.A. Davidson & CO. raised its position in shares of Match Group by 5.2% in the 4th quarter. D.A. Davidson & CO. now owns 17,261 shares of the technology company’s stock valued at $2,283,000 after acquiring an additional 847 shares during the period. CWM LLC bought a new stake in Match Group during the 4th quarter worth approximately $279,000. Finally, Raymond James Trust N.A. increased its stake in Match Group by 2.7% during the 4th quarter. Raymond James Trust N.A. now owns 3,586 shares of the technology company’s stock worth $475,000 after purchasing an additional 94 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

About Match Group

(Get Rating)

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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