Evercore ISI Initiates Coverage on Match Group (MTCH)

Investment analysts at Evercore ISI started coverage on shares of Match Group (NASDAQ:MTCH) in a research note issued to investors on Tuesday. The brokerage set an “outperform” rating on the technology company’s stock.

Several other analysts also recently issued reports on MTCH. Jefferies Group reissued a “buy” rating and issued a $28.00 price target (up previously from $23.00) on shares of Match Group in a report on Thursday, August 31st. BMO Capital Markets reissued a “buy” rating and issued a $21.00 price target on shares of Match Group in a report on Wednesday, September 13th. UBS raised their price target on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 20th. Zacks Investment Research raised Match Group from a “strong sell” rating to a “hold” rating and set a $28.00 price target on the stock in a report on Wednesday, October 4th. Finally, Citigroup raised their price target on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $30.89.

Match Group (NASDAQ:MTCH) traded up $0.11 during trading hours on Tuesday, reaching $28.33. The company’s stock had a trading volume of 1,011,632 shares, compared to its average volume of 1,435,070. The company has a market cap of $7,870.00 and a P/E ratio of 48.15. Match Group has a 52 week low of $15.42 and a 52 week high of $32.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $343.40 million during the quarter, compared to the consensus estimate of $329.19 million. Match Group had a return on equity of 31.18% and a net margin of 34.06%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. analysts anticipate that Match Group will post 0.63 earnings per share for the current fiscal year.

In other Match Group news, Director Ann Mcdaniel sold 11,119 shares of Match Group stock in a transaction on Monday, November 27th. The stock was sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 18.10% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in MTCH. Cubist Systematic Strategies LLC raised its stake in Match Group by 499.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after acquiring an additional 5,333 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Match Group by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after acquiring an additional 519 shares in the last quarter. Turner Investments LLC bought a new stake in Match Group during the 3rd quarter valued at $162,000. BNP Paribas Arbitrage SA raised its stake in Match Group by 162.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock valued at $163,000 after acquiring an additional 4,359 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Match Group by 40.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,354 shares of the technology company’s stock valued at $172,000 after acquiring an additional 2,129 shares in the last quarter. 21.03% of the stock is currently owned by hedge funds and other institutional investors.

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About Match Group

Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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