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Analysts Offer Insights on Communication Services Companies: Match Group (MTCH), Reddit Inc Class A (RDDT) and Sphere Entertainment (SPHR)

Tipranks - Tipranks - Thu Aug 6, 7:34AM CDT

Analysts have been eager to weigh in on the Communication Services sector with new ratings on Match Group (MTCH), Reddit Inc Class A (RDDT) and Sphere Entertainment (SPHR).

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Match Group (MTCH)

In a report released today, Brad Erickson from RBC Capital maintained a Buy rating on Match Group, with a price target of $42.00. The company’s shares closed last Tuesday at $41.24.

According to TipRanks.com, Erickson is a 4-star analyst with an average return of 4.9% and a 52.4% success rate. Erickson covers the Technology sector, focusing on stocks such as Uber Technologies, GoDaddy, and Lyft. ;'>

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Match Group with a $42.50 average price target, implying a 6.1% upside from current levels. In a report released today, TipRanks – OpenAI also upgraded the stock to Buy with a $45.00 price target.

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Reddit Inc Class A (RDDT)

J.P. Morgan analyst Doug Anmuth maintained a Hold rating on Reddit Inc Class A yesterday and set a price target of $185.00. The company’s shares closed last Tuesday at $159.97.

According to TipRanks.com, Anmuth is a 5-star analyst with an average return of 10.3% and a 57.2% success rate. Anmuth covers the NA sector, focusing on stocks such as Fiverr International, Alphabet Class A, and Alphabet Class C. ;'>

Currently, the analyst consensus on Reddit Inc Class A is a Moderate Buy with an average price target of $218.32, which is a 42.1% upside from current levels. In a report issued on August 1, TipRanks – Anthropic also downgraded the stock to Hold with a $153.00 price target.

Sphere Entertainment (SPHR)

J.P. Morgan analyst David Karnovsky maintained a Buy rating on Sphere Entertainment yesterday and set a price target of $164.00. The company’s shares closed last Tuesday at $158.54.

According to TipRanks.com, Karnovsky is a 5-star analyst with an average return of 18.0% and a 68.6% success rate. Karnovsky covers the NA sector, focusing on stocks such as Madison Square Garden Entertainment Corp., Liberty Media Liberty Formula One, and Madison Square Garden Sports. ;'>

Currently, the analyst consensus on Sphere Entertainment is a Strong Buy with an average price target of $178.55, implying a 18.3% upside from current levels. In a report issued on July 23, BTIG also maintained a Buy rating on the stock with a $190.00 price target.

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