Evercore ISI Lowers Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price objective decreased by analysts at Evercore ISI from $37.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price objective indicates a potential upside of 11.29% from the stock’s previous close.

Other analysts have also issued reports about the company. Susquehanna cut their price target on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Truist Financial dropped their price target on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research report on Thursday. Stifel Nicolaus cut their target price on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Bank of America raised their price objective on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.06.

Match Group Stock Up 2.8 %

MTCH stock opened at $31.45 on Friday. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a market cap of $7.90 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The business’s fifty day moving average is $34.35 and its 200-day moving average is $34.16.

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

Insider Buying and Selling at Match Group

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

Institutional Investors Weigh In On Match Group

Several large investors have recently modified their holdings of MTCH. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Match Group in the second quarter valued at $220,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Match Group by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock valued at $17,556,000 after purchasing an additional 17,540 shares in the last quarter. Penn Davis Mcfarland Inc. raised its position in shares of Match Group by 1.0% in the 2nd quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company’s stock worth $14,290,000 after acquiring an additional 4,638 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Match Group by 7.3% during the second quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock valued at $269,000 after buying an additional 598 shares during the period. Finally, Pallas Capital Advisors LLC grew its holdings in Match Group by 8.1% in the second quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock worth $409,000 after purchasing an additional 1,010 shares during the period. Hedge funds and other 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.