Could Match Group, Inc. (MTCH) Change Direction After Achieving Record High?

March 18, 2018 - By Adrian Erickson

The stock of Match Group, Inc. (NASDAQ:MTCH) reached all time high today, Mar, 18 and still has $47.86 target or 3.00 % above today’s $46.47 share price. This indicates more upside for the $12.78B company. This technical setup was reported by If the $47.86 PT is reached, the company will be worth $383.34 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock decreased 0.51% or $0.24 during the last trading session, reaching $46.47. About 1.47 million shares traded. Match Group, Inc. (NASDAQ:MTCH) has risen 42.49% since March 18, 2017 and is uptrending. It has outperformed by 25.79% the S&P500.

Analysts await Match Group, Inc. (NASDAQ:MTCH) to report earnings on May, 1. They expect $0.19 earnings per share, up 137.50 % or $0.11 from last year’s $0.08 per share. MTCH’s profit will be $52.24 million for 61.14 P/E if the $0.19 EPS becomes a reality. After $0.25 actual earnings per share reported by Match Group, Inc. for the previous quarter, Wall Street now forecasts -24.00 % negative EPS growth.

Match Group, Inc. (NASDAQ:MTCH) Ratings Coverage

Among 17 analysts covering Match Group (NASDAQ:MTCH), 11 have Buy rating, 0 Sell and 6 Hold. Therefore 65% are positive. Match Group had 34 analyst reports since November 23, 2015 according to SRatingsIntel. UBS maintained the shares of MTCH in report on Thursday, November 9 with “Buy” rating. The rating was initiated by Oppenheimer on Monday, December 14 with “Outperform”. The firm has “Equal-Weight” rating given on Monday, October 23 by Barclays Capital. Cowen & Co initiated the stock with “Outperform” rating in Monday, December 14 report. Citigroup maintained the stock with “Buy” rating in Wednesday, October 4 report. The rating was downgraded by Barclays Capital to “Equal-Weight” on Thursday, February 4. The company was initiated on Monday, December 14 by Deutsche Bank. The rating was initiated by Axiom Capital with “Buy” on Monday, November 23. The firm has “Overweight” rating by Barclays Capital given on Monday, December 14. The stock of Match Group, Inc. (NASDAQ:MTCH) earned “Buy” rating by Aegis Capital on Friday, November 18.

Match Group, Inc. provides dating products. The company has market cap of $12.78 billion. The firm operates in two divisions, Dating and Non-dating. It has a 39.35 P/E ratio. It operates a portfolio of approximately 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet, and LoveScout24.

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