Wells Fargo slashes price target on Match Group Inc. [MTCH] – find out why.


Match Group Inc. [NASDAQ: MTCH] loss -0.65% on the last trading session, reaching $70.25 price per share at the time. The company report on May 9, 2022 that MATCH GROUP FILES LAWSUIT AGAINST GOOGLE OVER UNLAWFUL BILLING MANDATES.

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Match Group Companies Seek Injunctive and Other Appropriate Relief for the Material, Irreparable Harm Google’s Manipulation, Broken Promises, and Abuse of Power Have Caused.

Match Group, Inc. (NASDAQ: MTCH) companies, including those that operate the dating apps Tinder®, Match®, OkCupid®, and several others (collectively, “Match Group”), today sued Google over its strategic manipulation of markets, broken promises, and abuse of power in requiring Match Group to use Google’s billing system to remain in the Google Play Store. Google’s requirement will eliminate user choice on Match Group apps and increase costs to consumers by allowing Google to charge Match Group an arbitrary and discriminatory tax of 15% on all subscriptions and up to 30% on all other in-app purchases, amounting to hundreds of millions of dollars in inflated “fees,” while monetizing the personal data of billions of digital app users. Google has monopolized the Google Play Store and is now abusing its power.

Match Group Inc. represents 283.07 million in outstanding shares, while the company has a total market value of $20.82 billion with the latest information. MTCH stock price has been found in the range of $67.8694 to $74.65.

If compared to the average trading volume of 3.32M shares, MTCH reached a trading volume of 6570106 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Match Group Inc. [MTCH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTCH shares is $126.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTCH stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Match Group Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 09, 2022. While these analysts kept the previous recommendation, Loop Capital raised their target price to Buy. The new note on the price target was released on April 11, 2022, representing the official price target for Match Group Inc. stock. Previously, the target price had yet another raise to $135, while Deutsche Bank analysts kept a Buy rating on MTCH stock.

The Average True Range (ATR) for Match Group Inc. is set at 6.08, with the Price to Sales ratio for MTCH stock in the period of the last 12 months amounting to 6.69. Price to Free Cash Flow for MTCH in the course of the last twelve months was 23.83 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for MTCH stock

Match Group Inc. [MTCH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.10. With this latest performance, MTCH shares dropped by -30.09% in over the last four-week period, additionally sinking by -54.94% over the last 6 months – not to mention a drop of -52.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTCH stock in for the last two-week period is set at 32.68, with the RSI for the last a single of trading hit 29.86, and the three-weeks RSI is set at 34.88 for Match Group Inc. [MTCH]. The present Moving Average for the last 50 days of trading for this stock 93.53, while it was recorded at 75.16 for the last single week of trading, and 127.53 for the last 200 days.

Match Group Inc. [MTCH]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Match Group Inc. [MTCH] shares currently have an operating margin of +28.55 and a Gross Margin at +69.52. Match Group Inc.’s Net Margin is presently recorded at +9.29.

Match Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Match Group Inc. [MTCH]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MTCH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Match Group Inc. go to 16.00%.

An analysis of insider ownership at Match Group Inc. [MTCH]

There are presently around $19,697 million, or 99.20% of MTCH stock, in the hands of institutional investors. The top three institutional holders of MTCH stocks are: VANGUARD GROUP INC with ownership of 28,660,438, which is approximately 2.366% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 23,609,487 shares of the stock with an approximate value of $1.67 billion in MTCH stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $1.17 billion in MTCH stock with ownership of nearly 9.848% of the company’s market capitalization.

Positions in Match Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 412 institutional holders increased their position in Match Group Inc. [NASDAQ:MTCH] by around 24,615,998 shares. Additionally, 341 investors decreased positions by around 24,790,224 shares, while 115 investors held positions by with 229,154,070 shares. The mentioned changes placed institutional holdings at 278,560,292 shares, according to the latest SEC report filing. MTCH stock had 93 new institutional investments in for a total of 5,402,860 shares, while 110 institutional investors sold positions of 4,079,818 shares during the same period.