What Made SunTrust Robinson Upgrade Match Group Inc’s Stock?

By Carrie Williams

SunTrust Robinson analyst Youssef Squali upgraded Match Group Inc (MTCHResearch Report) to Buy today and set a price target of $106. The company’s shares closed last Monday at $85.64, close to its 52-week high of $95.32.

Squali observed:

“We expect Tinder to once again print one of its best quarterly net adds ever, with further headroom to grow. Non-Tinder subs seem to have stabilized with legacy brands — Match and OkCupid, turning the corner given a bigger mktg push, while newer brands namely Harmonica are showing early promise. ST catalysts include pending divestiture from IAC and a buyback reload. MTCH’s 3Q19. For the last two quarters, Tinder has been the driving force behind the earnings beat by adding 503k and 384k net subscribers in 2Q19 and 1Q19, respectively. We believe 3Q19 is setting up to be another quarter with strong net adds (+450K) to build on the 5.2M aggregate Tinder subscribers reported last quarter.”

According to TipRanks.com, Squali is a top 100 analyst with an average return of 25.1% and a 71.2% success rate. Squali covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, Uber Technologies Inc, and IAC/InterActiveCorp.

Currently, the analyst consensus on Match Group Inc is a Moderate Buy with an average price target of $94.64, an 11.5% upside from current levels. In a report issued on September 3, Aegis Capital also assigned a Buy rating to the stock with a $105 price target.

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Match Group Inc’s market cap is currently $24.06B and has a P/E ratio of 51.01. The company has a Price to Book ratio of 114.81.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTCH in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Match Group, Inc. engages in providing dating products. Its brands include: Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet, and LoveScout24. It operates through the following segments: Dating and Non-Dating. The Dating segment provides dating products.