diff --git a/pre_commit/commands/autoupdate.py b/pre_commit/commands/autoupdate.py
index 1fc464a2b..b4d559c8e 100644
--- a/pre_commit/commands/autoupdate.py
+++ b/pre_commit/commands/autoupdate.py
@@ -43,7 +43,7 @@ def get_best_candidate_tag(self, rev: str, git_repo: str) -> str:
             'git', *git.NO_FS_MONITOR, 'tag', '--points-at', rev, cwd=git_repo,
         )[1].split()
         for tag in tags:
-            if '.' in tag and re.match(r'^[a-zA-Z0-9.]+$', tag):
+            if '.' in tag:
                 return tag
         return rev
 
@@ -70,7 +70,8 @@ def update(self, tags_only: bool, freeze: bool) -> RevInfo:
 
             try:
                 rev = cmd_output(*tag_cmd, cwd=tmp)[1].strip()
-                rev = self.get_best_candidate_tag(rev, tmp)
+                if tags_only:
+                    rev = self.get_best_candidate_tag(rev, tmp)
             except CalledProcessError:
                 cmd = (*git_cmd, 'rev-parse', 'FETCH_HEAD')
                 rev = cmd_output(*cmd, cwd=tmp)[1].strip()