Match Group (MTCH) Upgraded by Guggenheim to “Buy”

Guggenheim upgraded shares of Match Group (NASDAQ:MTCH) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports.

MTCH has been the topic of several other research reports. Wells Fargo & Company reiterated a buy rating and issued a $29.00 target price (up previously from $21.00) on shares of Match Group in a research report on Thursday, October 19th. Jefferies Group reaffirmed a buy rating and set a $28.00 target price on shares of Match Group in a research note on Saturday, September 30th. UBS lifted their target price on shares of Match Group from $22.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, September 20th. BMO Capital Markets reiterated a buy rating and set a $21.00 price target on shares of Match Group in a research report on Wednesday, September 13th. Finally, Bank of America lifted their price target on shares of Match Group from $21.00 to $30.00 and gave the company a buy rating in a research report on Tuesday, October 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $31.09.

Match Group (MTCH) remained flat at $$31.91 during trading hours on Tuesday. The company’s stock had a trading volume of 1,004,302 shares, compared to its average volume of 1,424,167. The stock has a market cap of $8,716.12, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.13 and a beta of 0.77. Match Group has a twelve month low of $15.42 and a twelve month high of $32.87. 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 released its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $329.19 million. Match Group had a return on equity of 31.18% and a net margin of 34.06%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. analysts predict that Match Group will post 0.62 earnings per share for the current fiscal year.

In other Match Group news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $30.62, for a total value of $340,463.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 18.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC raised its stake in shares of Match Group by 499.8% during the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after purchasing an additional 5,333 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Match Group by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after acquiring an additional 519 shares in the last quarter. Turner Investments LLC acquired a new stake in shares of Match Group during the 3rd quarter valued at about $162,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Match Group by 162.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock valued at $163,000 after buying an additional 4,359 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Match Group by 40.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,354 shares of the technology company’s stock valued at $172,000 after buying an additional 2,129 shares during the last quarter. Institutional investors own 20.97% of the company’s stock.

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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.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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