Match Group's Stock Crashes On Weak Outlook: These Analysts Look At Company's Prospects
Portfolio Pulse from Priya Nigam
Match Group Inc's shares fell after the company reported its Q3 results. The company's preliminary 2024 revenue guidance was slightly below expectations, and Q4 guidance was lower than expected due to geopolitical risk, FX, and macro factors. Tinder's direct revenue growth is expected to be around 11% y/y. Analysts from KeyBanc Capital Markets, Piper Sandler, RBC Capital Markets, and Truist Securities provided their insights on the company's performance and outlook.
November 01, 2023 | 4:26 pm
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Match Group's shares fell after reporting Q3 results. The company's 2024 revenue guidance was below expectations, and Q4 guidance was lower due to geopolitical risk, FX, and macro factors. Tinder's direct revenue growth is expected to be around 11% y/y.
The company's shares fell due to lower than expected revenue guidance for 2024 and Q4. This indicates a potential slowdown in growth, which is a negative signal for investors. The geopolitical risk, FX, and macro factors mentioned could further impact the company's performance.
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