Match Group, Inc. (NASDAQ:MTCH) is one of the worst performers on the stock market today. At current price of $73.42, the shares have already lost -2.6 points (-3.42% lower) from its previous close of $76.02. Should you buy or avoid them? The stock sets an active trading volume day with a reported 2942292 contracts so far this session. MTCH shares had a relatively better volume day versus average trading capacity of 2.35 million shares, but with a 53.98 million float and a 1.36% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MTCH stock indicates that the average analyst price target is $89.79 per share. This means the stock has a potential increase of 22.3% from where the MTCH share price has been trading recently which is between $75.32 and $78.2. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $75. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $106.
During the recent trading session for Match Group, Inc. (NASDAQ:MTCH), the company witnessed their stock drop by $-0.66 over a week and tumble down $-1.16 from the price 20 days ago. When compared to their established 52-week high of $95.32, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/08/19. The recent low of $33.3 stood for a -22.97% since 11/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.18 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for MTCH is set at $94, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Match Group, Inc., the two-week RSI stands at 43.8. This figure suggests that MTCH stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MTCH readings is similarly very revealing as it has a stochastic reading of 67.52% at this stage. This figure means that MTCH share price today is being neutral.
Technical chart claims that Match Group, Inc. (MTCH) would settle between $77.71/share to $79.39/share level. However, if the stock price goes below the $74.83 mark, then the market for Match Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $73.63 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.36. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Oppenheimer raised their recommendation on shares of MTCH from Perform to Outperform in their opinion released on October 10. Nomura analysts bumped their rating on Match Group, Inc. (NASDAQ:MTCH) stock from Neutral to Buy in a separate flash note issued to investors on October 07. Analysts at Deutsche Bank released an upgrade from Hold to Buy for the stock, in a research note that dated back to October 07.
MTCH equity has an average rating of 2.65, with the figure leaning towards a bullish end. 17 analysts who tracked the company were contacted by Reuters. Amongst them, 8 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 9 analysts rated Match Group, Inc. (NASDAQ:MTCH) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MTCH stock price is currently trading at 36.96X forward 12-month Consensus EPS estimates, and its P/E ratio is 45.3 while for the average stock in the same group, the multiple is 28. Match Group, Inc. current P/B ratio of 101.8 means it is trading at a premium against its industry’s 4.9.
Match Group, Inc. (MTCH)’s current-quarter revenues are projected to climb by nearly 21.7% to hit $540260, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 19.2% from $1.73 billion to a noteworthy $2.06 billion. At the other end of the current quarter income statement, Match Group, Inc. is expected to see its adjusted earnings surge by roughly 7.7% to hit $0.42 per share. For the fiscal year, MTCH’s earnings are projected to climb by roughly 16.8% to hit $1.74 per share.