Match Group (NASDAQ:MTCH) Downgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley downgraded shares of Match Group (NASDAQ:MTCH) from an overweight rating to an equal weight rating in a report released on Thursday morning, Marketbeat.com reports. The firm currently has $37.00 price target on the technology company’s stock, down from their prior price target of $53.00.

Other research analysts also recently issued reports about the company. Piper Sandler reissued an overweight rating and issued a $45.00 target price on shares of Match Group in a report on Wednesday, March 27th. Citigroup boosted their target price on Match Group from $32.00 to $39.00 and gave the stock a neutral rating in a report on Thursday, February 1st. KeyCorp boosted their target price on Match Group from $48.00 to $50.00 and gave the stock an overweight rating in a report on Thursday, February 1st. UBS Group upped their price objective on Match Group from $35.00 to $38.00 and gave the stock a neutral rating in a report on Friday, January 26th. Finally, StockNews.com downgraded Match Group from a buy rating to a hold rating in a report on Thursday, April 4th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $43.95.

Match Group Trading Down 0.2 %

MTCH stock opened at $32.22 on Thursday. Match Group has a 1-year low of $27.85 and a 1-year high of $49.24. The firm has a market cap of $8.64 billion, a P/E ratio of 14.13, a P/E/G ratio of 0.51 and a beta of 1.41. The business’s 50 day moving average is $35.06 and its 200-day moving average is $34.85.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.32. The company had revenue of $866.00 million for the quarter, compared to analyst estimates of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. Sell-side analysts forecast that Match Group will post 2.17 EPS for the current year.

Institutional Trading of Match Group

Several hedge funds have recently added to or reduced their stakes in MTCH. BlackRock Inc. raised its stake in shares of Match Group by 5.6% in the 1st quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock valued at $1,372,412,000 after purchasing an additional 1,889,531 shares during the period. Vanguard Group Inc. increased its position in shares of Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after acquiring an additional 500,418 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Match Group by 107,412.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock valued at $984,604,000 after acquiring an additional 23,709,043 shares during the last quarter. State Street Corp increased its position in shares of Match Group by 0.5% in the first quarter. State Street Corp now owns 12,492,462 shares of the technology company’s stock valued at $1,358,430,000 after acquiring an additional 58,027 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after acquiring an additional 2,130,646 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.