Match Group Inc Receives a Buy from Jefferies

By Carrie Williams

Jefferies analyst Brian Fitzgerald reiterated a Buy rating on Match Group Inc (NASDAQ: MTCH) yesterday and set a price target of $23. The company’s shares closed yesterday at $17.51.

Fitzgerald commented:

“MTCH remains one of our top mid cap picks and we believe recent weakness presents a buying opportunity. Stock is down ~10% in June on no news and is up just 2% YTD, vs the Internet peer group up ~25%. We believe MTCH is undervalued, trading at ~9.5x ’18 EBITDA while growing EBITDA 15% (’17-’20).”

According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 22.5% and a 78.4% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Endurance International, Alliance Data Systems, and IAC/InterActiveCorp.

Match Group Inc has an analyst consensus of Strong Buy, with a price target consensus of $21.67.

The company has a one year high of $20.75 and a one year low of $13.55. Currently, Match Group Inc has an average volume of 1.34M.

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Match Group provides dating products. The company product brands include Match, OkCupid, PlentyOfFish, Tinder, Meetic, Twoo, OurTime, BlackPeopleMeet and FriendScout24. It operates through the following segments: Dating and Non-Dating. The Dating segment provides dating products. The Non-Dating segment provides a variety of education services including test preparation, academic tutoring and college counseling services. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.