Oppenheimer Believes Match Group (NASDAQ: MTCH) Still Has Room to Grow

Oppenheimer analyst Jason Helfstein assigned a Buy rating to Match Group (MTCHResearch Report) yesterday and set a price target of $160.00. The company’s shares closed last Tuesday at $158.87, close to its 52-week high of $162.97.

According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 53.2% and a 76.9% success rate. Helfstein covers the Technology sector, focusing on stocks such as Opendoor Technologies, Spotify Technology SA, and Zillow Group Class C.

Currently, the analyst consensus on Match Group is a Strong Buy with an average price target of $165.20, a 3.9% upside from current levels. In a report issued on February 4, Deutsche Bank also maintained a Buy rating on the stock with a $168.00 price target.

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Based on Match Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $651 million and net profit of $141 million. In comparison, last year the company earned revenue of $3.25 billion and had a net profit of $100 million.

Based on the recent corporate insider activity of 18 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.

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Match Group is a provider of online dating products. The firm became public in 2015 and was more than 80% owned by IAC/InterActiveCorp until IAC spun it off in second-quarter 2020. The company has a vast portfolio of different online dating service providers, including Tinder, Match.com, OkCupid, PlentyOfFish, and Meetic. Match Group has more than 45 brands of online dating sites and/or apps, from which it generates user fee revenue (95%) and advertising revenue (5%).