Stifel Nicolaus Issues Pessimistic Forecast for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price objective decreased by equities research analysts at Stifel Nicolaus from $39.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 14.47% from the company’s previous close.

A number of other research analysts also recently weighed in on MTCH. Wells Fargo & Company reduced their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Susquehanna decreased their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Bank of America restated a “neutral” rating and issued a $35.00 price objective (down previously from $50.00) on shares of Match Group in a report on Thursday, November 7th. UBS Group lowered their target price on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Truist Financial cut their price target on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and a consensus price target of $39.06.

Match Group Stock Up 2.8 %

Shares of Match Group stock opened at $31.45 on Thursday. The firm has a market cap of $7.90 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The company’s fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $34.11. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42.

Match Group announced that its board has approved a stock buyback plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

A number of hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama lifted its position in Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after purchasing an additional 1,601,115 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Match Group by 9.0% in the third quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock worth $10,459,000 after buying an additional 22,887 shares during the period. Boyar Asset Management Inc. purchased a new position in shares of Match Group during the 3rd quarter valued at about $1,376,000. TD Private Client Wealth LLC grew its stake in shares of Match Group by 131.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company’s stock valued at $247,000 after acquiring an additional 3,705 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new stake in Match Group in the 3rd quarter worth approximately $249,000. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.