In a report released today, Youssef Squali from SunTrust Robinson initiated coverage with a Hold rating on Match Group Inc (MTCH) and a price target of $47. The company’s shares opened today at $42.13.
Squali said:
“We find MTCH’s valuation relatively fair given prospects for slowing growth in a strong FY18, fueled by the launch of Tinder Gold. We expect Tinder’s growth to remain the story in 2019 but the step-change created by Tinder Gold will be difficult to replicate. Optimizing/innovating on product, and enhancing marketing especially internationally should help drive continued growth but the comps and prospects for material out-performance get tougher. MTCH has also out-performed relative to STRH the TTM at 39% vs. 2% and -5% now trading at 6.4x EV/Revs on 19 ests. Global Market.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 17.1% and a 62.1% success rate. Squali covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, Eventbrite Inc, and Trade Desk Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Match Group Inc with a $55.13 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $58.01 and a one-year low of $29.14. Currently, Match Group Inc has an average volume of 2.7M.
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.
