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

by · The Cerbat Gem

Match Group (NASDAQ:MTCH – Get Free Report) had its target price cut by research analysts at Morgan Stanley from $36.00 to $33.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 3.32% from the stock’s previous close.

MTCH has been the subject of several other research reports. Truist Financial decreased their price target on 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 reissued a “buy” rating and issued a $38.00 target price on shares of Match Group in a report on Wednesday, July 31st. Evercore ISI raised Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Susquehanna reduced their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday. Finally, Bank of America reissued a “neutral” rating and issued a $35.00 price objective (down previously from $50.00) on shares of Match Group in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.73.

View Our Latest Stock Report on Match Group

Match Group Stock Performance

Shares of Match Group stock opened at $31.94 on Tuesday. The company has a 50-day simple moving average of $36.59 and a two-hundred day simple moving average of $33.99. The stock has a market capitalization of $8.24 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.63 and a beta of 1.51. Match Group has a 52-week low of $27.66 and a 52-week high of $42.42.

Hedge Funds Weigh In On Match Group

Several large investors have recently made changes to their positions in MTCH. EULAV Asset Management grew its position in shares of Match Group by 16.9% during the third quarter. EULAV Asset Management now owns 415,136 shares of the technology company’s stock worth $15,709,000 after purchasing an additional 59,955 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Match Group in the 3rd quarter worth approximately $251,000. Caprock Group LLC purchased a new stake in Match Group during the 3rd quarter valued at approximately $221,000. Aviance Capital Partners LLC bought a new stake in shares of Match Group during the third quarter valued at approximately $2,170,000. Finally, Mawer Investment Management Ltd. raised its position in shares of Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after buying an additional 267,890 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

About Match Group

(Get Free Report)

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.

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