Royal Bank of Canada Cuts Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price target decreased by Royal Bank of Canada from $47.00 to $35.00 in a research report released on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $38.00 target price on shares of Match Group in a report on Wednesday, July 31st. Wolfe Research started coverage on Match Group in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price on the stock. TD Cowen boosted their target price on Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.90.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $31.94 on Friday. The company’s fifty day moving average is $36.70 and its 200-day moving average is $33.99. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The company has a market capitalization of $8.24 billion, a PE ratio of 13.64, a P/E/G ratio of 0.63 and a beta of 1.51.

Hedge Funds Weigh In On Match Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Match Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock worth $1,173,966,000 after buying an additional 416,140 shares during the period. Pacer Advisors Inc. raised its stake in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after acquiring an additional 2,940,667 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock worth $148,034,000 after purchasing an additional 943,894 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Match Group in the second quarter worth $100,848,000. Finally, Bank of New York Mellon Corp raised its position in shares of Match Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after purchasing an additional 12,379 shares during the period. 94.05% of the stock is owned by institutional investors.

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.