Bank of America Corporation Increases Match Group, Inc. (MTCH) Price Target to $30.00

Match Group, Inc. (NASDAQ:MTCH) had its price target increased by stock analysts at Bank of America Corporation from $21.00 to $30.00 in a report released on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Bank of America Corporation’s price target points to a potential upside of 18.53% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Jefferies Group LLC reissued a “buy” rating and set a $28.00 price target on shares of Match Group in a report on Saturday, September 30th. BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Aegis increased their price target on Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. increased their price target on Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.67.

Match Group (NASDAQ:MTCH) traded up 0.91% during mid-day trading on Tuesday, reaching $25.54. The company’s stock had a trading volume of 142,078 shares. Match Group has a 12-month low of $15.08 and a 12-month high of $25.76. The firm has a market cap of $6.70 billion, a PE ratio of 36.33 and a beta of 0.56. The company has a 50-day moving average price of $22.62 and a 200-day moving average price of $19.36.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. Match Group’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, equities research analysts expect that Match Group will post $0.79 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Bank of America Corporation Increases Match Group, Inc. (MTCH) Price Target to $30.00” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/10/bank-of-america-corporation-increases-match-group-inc-mtch-price-target-to-30-00.html.

In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the sale, the general counsel now owns 64,436 shares in the company, valued at approximately $1,318,360.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Sam Yagan sold 684,583 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $21.95, for a total value of $15,026,596.85. Following the completion of the sale, the insider now owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The disclosure for this sale can be found here. Insiders sold a total of 902,498 shares of company stock valued at $19,287,878 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of MTCH. Cubist Systematic Strategies LLC increased its stake in Match Group by 499.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after buying an additional 5,333 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Match Group by 19.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after buying an additional 1,156 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after buying an additional 519 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Match Group in the 2nd quarter worth $176,000. Finally, UBS Asset Management Americas Inc. purcha

Other equities analysts have also recently issued reports about the company. Jefferies Group LLC reissued a “buy” rating and set a $28.00 price target on shares of Match Group in a report on Saturday, September 30th. BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Aegis increased their price target on Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. increased their price target on Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.67.

Match Group (NASDAQ:MTCH) traded up 0.91% during mid-day trading on Tuesday, reaching $25.54. The company’s stock had a trading volume of 142,078 shares. Match Group has a 12-month low of $15.08 and a 12-month high of $25.76. The firm has a market cap of $6.70 billion, a PE ratio of 36.33 and a beta of 0.56. The company has a 50-day moving average price of $22.62 and a 200-day moving average price of $19.36.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. Match Group’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, equities research analysts expect that Match Group will post $0.79 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Bank of America Corporation Increases Match Group, Inc. (MTCH) Price Target to $30.00” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/10/bank-of-america-corporation-increases-match-group-inc-mtch-price-target-to-30-00.html.

In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the sale, the general counsel now owns 64,436 shares in the company, valued at approximately $1,318,360.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Sam Yagan sold 684,583 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $21.95, for a total value of $15,026,596.85. Following the completion of the sale, the insider now owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The disclosure for this sale can be found here. Insiders sold a total of 902,498 shares of company stock valued at $19,287,878 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of MTCH. Cubist Systematic Strategies LLC increased its stake in Match Group by 499.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after buying an additional 5,333 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Match Group by 19.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after buying an additional 1,156 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after buying an additional 519 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Match Group in the 2nd quarter worth $176,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Match Group in the 1st quarter worth $181,000. Institutional investors and hedge funds own 18.97% of the company’s stock.

Match Group Company Profile

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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