Barclays Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its target price lowered by equities research analysts at Barclays from $53.00 to $52.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 53.85% from the stock’s current price.

Several other equities research analysts have also issued reports on MTCH. Wells Fargo & Company decreased their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Loop Capital cut their target price on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Stock Down 2.3 %

MTCH stock opened at $33.80 on Thursday. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The firm has a market cap of $8.49 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.10 and a beta of 1.45. The company’s 50-day moving average price is $32.99 and its two-hundred day moving average price is $34.66.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. Equities analysts predict that Match Group will post 2.37 EPS for the current year.

Match Group declared that its board has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTCH. Venturi Wealth Management LLC increased its stake in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Match Group during the 3rd quarter valued at $31,000. Northwest & Ethical Investments L.P. bought a new stake in Match Group during the 3rd quarter valued at $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC bought a new stake in Match Group during the 3rd quarter valued at $87,000. Institutional investors and hedge funds 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.