Jefferies Group LLC Raises Match Group, Inc. (NASDAQ:MTCH) Price Target to $28.00

Match Group, Inc. (NASDAQ:MTCH) had its price objective raised by investment analysts at Jefferies Group LLC from $23.00 to $28.00 in a research report issued on Thursday, September 7th, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 18.90% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Vetr raised shares of Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 target price for the company in a research note on Wednesday, May 17th. Zacks Investment Research cut shares of Match Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. BidaskClub cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Aegis boosted their target price on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $21.04.

Shares of Match Group (MTCH) traded up 3.02% during trading on Thursday, reaching $23.55. The company’s stock had a trading volume of 1,532,939 shares. Match Group has a one year low of $15.08 and a one year high of $24.05. The firm’s 50-day moving average price is $20.19 and its 200-day moving average price is $18.44. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 33.50 and a beta of 0.53.

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

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In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the sale, the general counsel now directly owns 64,436 shares of the company’s stock, valued at approximately $1,318,360.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Sam Yagan sold 98,854 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $19.10, for a total transaction of $1,888,111.40. Following the completion of the transaction, the insider now owns 84,391 shares of the company’s stock, valued at approximately $1,611,868.10. The disclosure for this sale can be found here. Insiders sold a total of 902,498 shares of company stock worth $19,287,878 over the last three months. Insiders own 18.10% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in Match Group by 115.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock worth $183,000 after purchasing an additional 5,633 shares during the period. Koch Industries Inc. boosted its stake in Match Group by 1,409.6% during the 2nd quarter. Koch Industries Inc. now owns 566,085 shares of the technology company’s stock worth $535,000 after purchasing an additional 528,585 shares during the period. Verition Fund Management LLC acquired a new stake in Match Group during the 2nd quarter worth $246,000. California State Teachers Retirement System boosted its stake in Match Group by 13.4% during the 2nd quarter. California State Teachers Retirement System now owns 65,168 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 7,700 shares during the period. Finally, The Manufacturers Life Insurance Company boosted 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 worth $131,000 after purchasing an additional 519 shares during the period. Hedge funds and other institutional investors own 19.05% 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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