Match Group Analyst Flags Tinder Woes, Industry Challenges For Stock Downgrade
JPMorgan analyst Cory Carpenter downgraded Match Group (NASDAQ:MTCH) from Overweight to Neutral and lowered the price target from $40 to $33.
Match is the leading online dating platform with an estimated ~50% share of global dating users across its portfolio of brands. Tinder is the largest and most profitable dating app globally and Hinge is the fastest-growing scaled dating brand.
Also Read: ON Semiconductor and Denso Team Up to Boost Self-Driving Tech
The rerating reflects Carpenter’s expectation for muted growth in the online dating industry in 2025 and limited visibility in the timing and magnitude of the Tinder turnaround. The analyst noted the downside is limited due to undemanding valuation, low investor expectations, dividends and share buybacks, and activism.
Heading into …
Full story available on Benzinga.com