Royal Bank of Canada Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price target lowered by analysts at Royal Bank of Canada from $47.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 14.53% from the company’s previous close.

Several other equities research analysts have also commented on MTCH. Truist Financial decreased their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $38.00 price target on shares of Match Group in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. HSBC upgraded Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price on the stock in a research note on Monday, August 5th. Finally, Bank of America restated a “neutral” rating and set a $35.00 price objective (down previously from $50.00) on shares of Match Group in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.90.

Match Group Trading Down 1.8 %

Shares of MTCH traded down $0.55 on Friday, reaching $30.56. The company’s stock had a trading volume of 10,143,629 shares, compared to its average volume of 4,311,218. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The stock has a market capitalization of $7.88 billion, a PE ratio of 13.64, a PEG ratio of 0.63 and a beta of 1.51. The firm has a fifty day moving average of $36.70 and a 200-day moving average of $33.96.

Hedge Funds Weigh In On Match Group

A number of large investors have recently modified their holdings of MTCH. Janney Montgomery Scott LLC grew its position in shares of Match Group by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock valued at $2,894,000 after purchasing an additional 2,083 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Match Group by 151.7% in the 1st quarter. GSA Capital Partners LLP now owns 22,854 shares of the technology company’s stock valued at $829,000 after acquiring an additional 13,774 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Match Group by 3.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,113 shares of the technology company’s stock valued at $2,036,000 after acquiring an additional 1,869 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after purchasing an additional 326 shares in the last quarter. Finally, Forsta AP Fonden increased its position in shares of Match Group by 44.2% in the first quarter. Forsta AP Fonden now owns 171,900 shares of the technology company’s stock worth $6,237,000 after purchasing an additional 52,700 shares during the last quarter. 94.05% of the stock is currently 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.