Tinder owner Match faces downgrade on waning usership
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Match Group Inc (NASDAQ:MTCH), the owner of Tinder, has been downgraded by Jefferies analysts from 'buy' to 'hold' due to declining usership. The price target was also reduced from $40 to $32.
December 17, 2024 | 4:00 pm
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Match Group Inc has been downgraded by Jefferies from 'buy' to 'hold' due to declining Tinder usership, with a price target cut from $40 to $32.
The downgrade by Jefferies reflects concerns over declining usership of Tinder, a key product for Match Group. The reduction in price target suggests a negative outlook on the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100